Cannae Holdings, Inc. $CNNE is EJF Capital LLC's 8th Largest Position

Key Points

• EJF Capital LLC has increased its stake in Cannae Holdings by 39.7% during the first quarter, now holding 228,789 shares worth approximately $4.19 million.
• Cannae Holdings declared a quarterly dividend of $0.15 per share, up from the previous $0.12, indicating a positive change in its shareholder returns.
• Royal Bank of Canada raised its price target for Cannae from $22.00 to $26.00, with two analysts giving it a Buy rating and a consensus price target of $24.00.

EJF Capital LLC grew its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 39.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,789 shares of the company's stock after purchasing an additional 65,000 shares during the quarter. Cannae makes up about 2.7% of EJF Capital LLC's investment portfolio, making the stock its 8th largest position. EJF Capital LLC owned 0.36% of Cannae worth $4,194,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CNNE. Carronade Capital Management LP increased its position in shares of Cannae by 66.2% during the 1st quarter. Carronade Capital Management LP now owns 2,874,116 shares of the company's stock valued at $52,683,000 after purchasing an additional 1,145,190 shares during the last quarter. Saba Capital Management L.P. increased its position in shares of Cannae by 92.3% during the 4th quarter. Saba Capital Management L.P. now owns 2,219,230 shares of the company's stock valued at $44,074,000 after purchasing an additional 1,065,083 shares during the last quarter. Nuveen LLC bought a new position in shares of Cannae during the 1st quarter valued at about $14,816,000. Private Management Group Inc. increased its position in shares of Cannae by 91.1% during the 1st quarter. Private Management Group Inc. now owns 1,601,334 shares of the company's stock valued at $29,352,000 after purchasing an additional 763,324 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Cannae during the 4th quarter valued at about $10,174,000. 88.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Frank R. Martire sold 26,478 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.90% of the stock is owned by corporate insiders.

Cannae Trading Down 0.3%

CNNE stock traded down $0.05 during trading on Monday, hitting $18.69. 845,973 shares of the company traded hands, compared to its average volume of 659,536. The firm has a market capitalization of $1.05 billion, a PE ratio of -2.79 and a beta of 1.08. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36. The company has a 50-day moving average of $20.08 and a 200-day moving average of $18.94. 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 issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.2%. This is a boost from Cannae's previous quarterly dividend of $0.12. Cannae's dividend payout ratio (DPR) is currently -7.16%.

Analyst Ratings Changes

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

Cannae Company 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.