Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 5.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,973 shares of the company’s stock after selling 1,433 shares during the quarter. Sei Investments Co.’s holdings in Cannae were worth $457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management purchased a new position in Cannae in the 4th quarter valued at about $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Cannae during the fourth quarter valued at approximately $76,000. R Squared Ltd acquired a new stake in Cannae during the fourth quarter worth approximately $78,000. Blue Trust Inc. grew its stake in Cannae by 457.9% in the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock worth $94,000 after acquiring an additional 4,062 shares during the period. Finally, Global Retirement Partners LLC grew its stake in Cannae by 29.6% in the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock worth $104,000 after acquiring an additional 1,198 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Trading Up 7.7 %

NYSE:CNNE opened at $17.34 on Thursday. Cannae Holdings, Inc. has a one year low of $15.92 and a one year high of $22.36. The business’s 50-day simple moving average is $18.44 and its 200 day simple moving average is $19.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -3.60 and a beta of 0.89.

Cannae Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 17th. Cannae’s dividend payout ratio (DPR) is presently -10.17%.

Cannae declared that its Board of Directors has approved a share buyback program on Tuesday, March 25th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.