Raymond James Financial Inc. Purchases Shares of 295,378 Cannae Holdings, Inc. (NYSE:CNNE)

Raymond James Financial Inc. purchased a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 295,378 shares of the company's stock, valued at approximately $5,866,000. Raymond James Financial Inc. owned 0.47% of Cannae at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNNE. BNP Paribas Financial Markets increased its stake in shares of Cannae by 10.2% during the third quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company's stock valued at $236,000 after purchasing an additional 1,150 shares in the last quarter. Global Retirement Partners LLC increased its stake in Cannae by 29.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock valued at $104,000 after purchasing an additional 1,198 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Cannae by 9.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company's stock worth $384,000 after buying an additional 1,789 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cannae by 9.9% during the fourth quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock valued at $399,000 after buying an additional 1,817 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Cannae by 19.6% during the fourth quarter. Park Avenue Securities LLC now owns 12,312 shares of the company's stock valued at $245,000 after acquiring an additional 2,014 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Remove Ads

Cannae Stock Performance

Shares of CNNE traded down $0.33 during trading hours on Friday, hitting $18.51. The stock had a trading volume of 872,402 shares, compared to its average volume of 467,926. The firm has a market capitalization of $1.16 billion, a PE ratio of -3.85 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. Cannae Holdings, Inc. has a 12 month low of $15.99 and a 12 month high of $22.99. The stock has a fifty day moving average price of $18.84 and a 200 day moving average price of $19.46.

Cannae announced that its Board of Directors has approved a share buyback plan on Tuesday, March 25th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, March 17th. Cannae's dividend payout ratio (DPR) is presently -10.17%.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer cut their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada lowered their target price on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th.

About Cannae

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc was founded in 2014 and is based in Las Vegas, Nevada.