Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,365 shares of the company’s stock after selling 1,188 shares during the quarter. Voya Investment Management LLC’s holdings in Cannae were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Private Management Group Inc. purchased a new stake in shares of Cannae in the fourth quarter valued at about $16,643,000. Highbridge Capital Management LLC boosted its holdings in Cannae by 12.0% in the 4th quarter. Highbridge Capital Management LLC now owns 581,088 shares of the company’s stock valued at $11,540,000 after purchasing an additional 62,437 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Cannae by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock valued at $8,666,000 after purchasing an additional 44,691 shares during the last quarter. Crescent Grove Advisors LLC grew its stake in shares of Cannae by 1.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 324,220 shares of the company’s stock valued at $6,439,000 after buying an additional 3,957 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cannae during the 4th quarter worth approximately $5,866,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Trading Down 0.4%

NYSE CNNE opened at $18.40 on Monday. Cannae Holdings, Inc. has a 52 week low of $15.92 and a 52 week high of $22.36. The firm has a 50 day moving average of $17.59 and a two-hundred day moving average of $19.15. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.16 billion, a PE ratio of -3.83 and a beta of 1.03.

Cannae declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 25th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Cannae Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Monday, June 16th. Cannae’s dividend payout ratio (DPR) is -10.17%.

Wall Street Analysts Forecast Growth

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

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.