Charles Schwab Investment Management Inc. Sells 72,664 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Charles Schwab Investment Management Inc. lessened its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,488 shares of the company’s stock after selling 72,664 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Cannae were worth $10,774,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CNNE. Spire Wealth Management bought a new position in shares of Cannae in the fourth quarter valued at approximately $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Cannae during the fourth quarter valued at approximately $76,000. R Squared Ltd purchased a new stake in shares of Cannae during the fourth quarter valued at approximately $78,000. Blue Trust Inc. increased its position in shares of Cannae by 457.9% during the fourth quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock valued at $94,000 after acquiring an additional 4,062 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Cannae by 29.6% during 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 last quarter. Institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

Shares of CNNE opened at $18.79 on Friday. 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 $1.18 billion, a price-to-earnings ratio of -3.91 and a beta of 0.86. The stock has a 50 day moving average of $18.84 and a 200 day moving average of $19.47. Cannae Holdings, Inc. has a 12 month low of $15.99 and a 12 month high of $22.99.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, March 17th. Cannae’s dividend payout ratio is currently -10.17%.

Analysts Set New Price Targets

CNNE has been the subject of a number of research analyst reports. Oppenheimer decreased their price target on Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada decreased their price target on Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research 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.