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Story highlights

Baby will be called Her Royal Highness Princess Charlotte of Cambridge

Middle name in honor of Diana, her paternal grandmother

Charlotte was among the UK bookmakers' favorites before the announcement

London CNN  — 

And the princess has a name!

The newest UK royal, a girl born on Saturday, has been named Charlotte Elizabeth Diana.

The middle names, of course, hark to her great-grandmother, the current queen, and her paternal grandmother, Princess Diana, who died in 1997.

Charlotte, a feminine form of Charles, is likely a nod to her grandfather, Prince Charles.

Charlotte Elizabeth Diana is fourth in line to the throne – after Prince Charles; her father, Prince William; and her brother, Prince George.

She will be called Her Royal Highness Princess Charlotte of Cambridge. Her mother is Kate Middleton, the Duchess of Cambridge.

Outside the royal palace, CNN’s Max Foster found that reaction to the name was largely positive, with people describing it as “beautiful.”

Social media lit up with reaction, most of it rapturous.

Charlotte was among the UK bookmakers’ favorites before the announcement. Alice was another, followed closely by Victoria and Elizabeth, according to the gaming site Ladbrokes.