CANADA LIFE ASSURANCE Co Has $1.76 Million Stock Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

CANADA LIFE ASSURANCE Co trimmed its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 88,452 shares of the company’s stock after selling 3,609 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Cannae were worth $1,756,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake 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 buying an additional 44,691 shares in the last quarter. Barclays PLC lifted its holdings in shares of Cannae by 221.9% during the third 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 period. Spire Wealth Management acquired a new stake in shares of Cannae in the 4th quarter valued at $45,000. Strategic Financial Concepts LLC bought a new stake in shares of Cannae in the 4th quarter worth about $281,000. Finally, Private Management Group Inc. acquired a new stake in shares of Cannae during the 4th quarter worth about $16,643,000. 88.12% of the stock is currently owned by institutional investors.

Cannae Price Performance

Shares of CNNE stock opened at $17.91 on Monday. Cannae Holdings, Inc. has a 52 week low of $15.92 and a 52 week high of $22.36. The stock has a market capitalization of $1.12 billion, a PE ratio of -3.72 and a beta of 0.89. 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’s fifty day moving average is $17.87 and its 200-day moving average is $19.22.

Cannae Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Monday, March 17th. Cannae’s payout ratio is presently -10.17%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer reduced their price target on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada reduced their target price on Cannae from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th.

Cannae 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.