Invesco Ltd. Has $5.06 Million Stock Position in Cannae Holdings, Inc. (NYSE:CNNE)

Invesco Ltd. cut its stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,904 shares of the company's stock after selling 25,545 shares during the period. Invesco Ltd. owned 0.41% of Cannae worth $5,062,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in shares of Cannae during the 4th quarter worth $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cannae in the fourth quarter valued at $76,000. R Squared Ltd acquired a new position in Cannae during the 4th quarter worth about $78,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Cannae by 133.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock valued at $85,000 after purchasing an additional 2,436 shares during the period. Finally, Blue Trust Inc. boosted its position in Cannae by 457.9% in the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock valued at $94,000 after buying an additional 4,062 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cannae Trading Up 1.5 %

Shares of CNNE stock traded up $0.26 during trading hours on Thursday, hitting $17.97. 28,437 shares of the company were exchanged, compared to its average volume of 447,376. Cannae Holdings, Inc. has a 1 year low of $15.92 and a 1 year high of $22.36. 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 firm has a fifty day moving average of $17.77 and a 200 day moving average of $19.19. The firm has a market cap of $1.13 billion, a PE ratio of -3.74 and a beta of 0.89.

Cannae announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 25th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Cannae Announces Dividend

The company also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, March 17th. Cannae's payout ratio is -10.17%.

Wall Street Analysts Forecast Growth

CNNE has been the subject of several analyst reports. 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 dropped their target price 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.

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.