Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 16.8% during the fourth quarter, HoldingsChannel reports. The firm owned 257,854 shares of the company’s stock after selling 51,958 shares during the period. Prudential Financial Inc.’s holdings in Cannae were worth $5,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in Cannae during the 3rd quarter worth approximately $244,000. FMR LLC lifted its position in shares of Cannae by 17.6% during the third quarter. FMR LLC now owns 2,653,854 shares of the company’s stock worth $50,582,000 after purchasing an additional 397,352 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Cannae by 10.2% in 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 during the period. Maven Securities LTD acquired a new stake in Cannae during the 3rd quarter valued at $358,000. Finally, State Street Corp increased its stake in Cannae by 1.6% during the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company’s stock worth $30,598,000 after buying an additional 25,403 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Cannae Trading Down 0.9 %

NYSE CNNE opened at $18.36 on Tuesday. The company’s fifty day moving average price is $18.82 and its two-hundred day moving average price is $19.46. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.82 and a beta of 0.86. Cannae Holdings, Inc. has a 12 month low of $15.99 and a 12 month high of $22.99. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.12 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 2.62%. Cannae’s dividend payout ratio (DPR) is -10.17%.

Cannae declared that its board has approved a share repurchase program on Tuesday, March 25th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cannae Company 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.