Cannae (NYSE:CNNE) Director Frank Martire Sells 106,855 Shares

Key Points

• Frank Martire, a director at Cannae Holdings, sold 106,855 shares at an average price of $18.63, resulting in a total transaction of approximately $1.99 million and an 80.14% decrease in his ownership.
• Cannae recently announced an increase in its quarterly dividend from $0.12 to $0.15 per share, providing investors with a 3.2% dividend yield.
• Analysts have a consensus rating of "Buy" on Cannae's stock, with Royal Bank Of Canada raising their target price from $22.00 to $26.00.

Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) Director Frank Martire sold 106,855 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $18.63, for a total transaction of $1,990,708.65. Following the completion of the transaction, the director owned 26,478 shares of the company's stock, valued at approximately $493,285.14. The trade was a 80.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cannae Price Performance

Shares of CNNE traded up $0.17 during mid-day trading on Wednesday, reaching $18.72. The stock had a trading volume of 342,278 shares, compared to its average volume of 656,793. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -2.79 and a beta of 1.08. Cannae Holdings, Inc. has a 12 month low of $15.91 and a 12 month high of $22.36. The business has a fifty day moving average of $20.20 and a 200 day moving average of $18.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.78 and a current ratio of 2.78.

Cannae Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.15 per share. This is a positive change from Cannae's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 16th. Cannae's dividend payout ratio (DPR) is currently -7.16%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada upped their target price on shares of Cannae from $22.00 to $26.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $24.00.

Institutional Investors Weigh In On Cannae

Several large investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey increased its stake in Cannae by 6.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,189 shares of the company's stock worth $254,000 after buying an additional 725 shares during the period. Park Avenue Securities LLC increased its stake in Cannae by 6.3% in the 1st quarter. Park Avenue Securities LLC now owns 13,089 shares of the company's stock worth $240,000 after buying an additional 777 shares during the period. CWM LLC increased its stake in Cannae by 40.4% in the 2nd quarter. CWM LLC now owns 3,253 shares of the company's stock worth $68,000 after buying an additional 936 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cannae by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company's stock worth $637,000 after buying an additional 1,151 shares during the period. Finally, Crescent Grove Advisors LLC increased its stake in Cannae by 0.4% in the 1st quarter. Crescent Grove Advisors LLC now owns 325,479 shares of the company's stock worth $5,966,000 after buying an additional 1,259 shares during the period. 88.12% of the stock is owned by institutional investors.

About Cannae

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.

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