Russell Investments Group Ltd. Decreases Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Russell Investments Group Ltd. lessened its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 147,621 shares of the company's stock after selling 72,488 shares during the period. Russell Investments Group Ltd. owned 0.24% of Cannae worth $2,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management purchased a new stake in Cannae in the fourth quarter valued at $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cannae during the 4th quarter worth about $76,000. R Squared Ltd purchased a new stake in Cannae in the 4th quarter valued at about $78,000. Nomura Asset Management Co. Ltd. lifted its position in Cannae by 133.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock valued at $85,000 after buying an additional 2,436 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Cannae by 457.9% during the fourth quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock worth $94,000 after buying an additional 4,062 shares during the period. Institutional investors and hedge funds own 88.12% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CNNE shares. Oppenheimer dropped their target price on shares of Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Royal Bank of Canada dropped their price objective on Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th.

Cannae Stock Up 2.2 %

Shares of NYSE CNNE traded up $0.38 during midday trading on Wednesday, hitting $17.54. The company's stock had a trading volume of 50,332 shares, compared to its average volume of 572,342. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -3.65 and a beta of 0.89. The business's fifty day simple moving average is $18.01 and its two-hundred day simple moving average is $19.22. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.12 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.74%. Cannae's dividend payout ratio is presently -10.17%.

Cannae announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Cannae Profile

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.