Fidelity National Financial Inc. reduced its position in Cannae Holdings, Inc. (NYSE:CNNE – Get Rating) by 17.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,775,598 shares of the company's stock after selling 1,000,000 shares during the period. Cannae accounts for approximately 11.4% of Fidelity National Financial Inc.'s portfolio, making the stock its 3rd largest holding. Fidelity National Financial Inc. owned approximately 0.06% of Cannae worth $114,232,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in shares of Cannae during the fourth quarter valued at about $37,000. Nisa Investment Advisors LLC purchased a new position in shares of Cannae during the first quarter worth about $26,000. Allworth Financial LP grew its holdings in shares of Cannae by 77.8% during the first quarter. Allworth Financial LP now owns 1,849 shares of the company's stock worth $44,000 after purchasing an additional 809 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Cannae during the first quarter worth about $91,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Cannae by 25.6% during the first quarter. Mercer Global Advisors Inc. ADV now owns 8,650 shares of the company's stock worth $207,000 after purchasing an additional 1,765 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors.Get Cannae alerts:
Insider Buying and Selling
In related news, Director Cannae Holdings, Inc. sold 7,871,685 shares of Cannae stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $13.81, for a total value of $108,707,969.85. Following the transaction, the director now owns 80,406,356 shares in the company, valued at approximately $1,110,411,776.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast GrowthCNNE has been the subject of several recent analyst reports. Stephens boosted their price objective on Cannae from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Tuesday, August 9th. TheStreet lowered Cannae from a "c-" rating to a "d" rating in a report on Tuesday, August 9th.
Cannae Trading Up 2.3 %
NYSE:CNNE traded up $0.52 during trading hours on Friday, reaching $23.43. The company's stock had a trading volume of 471,574 shares, compared to its average volume of 385,516. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -2.71 and a beta of 0.78. The firm has a 50-day simple moving average of $21.63 and a 200-day simple moving average of $21.96. Cannae Holdings, Inc. has a 1 year low of $17.11 and a 1 year high of $36.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.69 and a current ratio of 0.69.
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 is based in Las Vegas, Nevada.
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