LPL Financial LLC Buys 10,133 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

LPL Financial LLC increased its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 70.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,565 shares of the company’s stock after acquiring an additional 10,133 shares during the quarter. LPL Financial LLC’s holdings in Cannae were worth $488,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Cannae in the fourth quarter worth $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Cannae during the 4th quarter worth $76,000. R Squared Ltd acquired a new stake in Cannae during the 4th quarter worth $78,000. Blue Trust Inc. lifted its holdings 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 acquiring an additional 4,062 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Cannae by 29.6% in the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock valued at $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 Price Performance

Shares of NYSE CNNE opened at $17.50 on Friday. The company has a fifty day moving average price of $17.92 and a 200 day moving average price of $19.21. The firm has a market cap of $1.10 billion, a PE ratio of -3.64 and a beta of 0.89. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae Holdings, Inc. has a 1-year low of $15.92 and a 1-year high of $22.36.

Cannae announced that its board has approved a stock buyback plan on Tuesday, March 25th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Cannae Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.74%. Cannae’s payout ratio is presently -10.17%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNNE. Royal Bank of Canada cut their price objective on Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Oppenheimer dropped their target price on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating on the stock 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.