Envestnet Asset Management Inc. Has $4.71 Million Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Envestnet Asset Management Inc. increased its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,036 shares of the company’s stock after buying an additional 3,828 shares during the period. Envestnet Asset Management Inc. owned 0.38% of Cannae worth $4,708,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Barclays PLC raised its position in shares of Cannae by 221.9% during the 3rd quarter. Barclays PLC now owns 95,378 shares of the company’s stock valued at $1,818,000 after acquiring an additional 65,749 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cannae by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock worth $8,666,000 after purchasing an additional 44,691 shares during the period. Park Avenue Securities LLC grew its stake 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 worth $245,000 after purchasing an additional 2,014 shares during the period. SG Americas Securities LLC increased its holdings in Cannae by 9.9% in the fourth quarter. SG Americas Securities LLC now owns 20,102 shares of the company’s stock valued at $399,000 after purchasing an additional 1,817 shares during the last quarter. Finally, Crescent Grove Advisors LLC lifted its stake in Cannae by 1.2% in the fourth 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. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Stock Performance

Shares of Cannae stock opened at $17.17 on Wednesday. The stock’s fifty day simple moving average is $18.01 and its 200 day simple moving average is $19.22. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.08 billion, a PE ratio of -3.57 and a beta of 0.89. Cannae Holdings, Inc. has a 12 month low of $15.92 and a 12 month high of $22.36.

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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, March 17th. Cannae’s dividend payout ratio is currently -10.17%.

Cannae announced that its board has initiated a share repurchase program on Tuesday, March 25th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CNNE has been the subject of several analyst reports. Royal Bank of Canada decreased their target price 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 decreased their price objective 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.

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.