EJF Capital LLC lifted its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 39.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,789 shares of the company's stock after buying an additional 65,000 shares during the period. Cannae makes up about 2.7% of EJF Capital LLC's investment portfolio, making the stock its 8th largest holding. EJF Capital LLC owned about 0.36% of Cannae worth $4,194,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cannae by 460.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company's stock valued at $38,000 after purchasing an additional 1,700 shares in the last quarter. Summit Securities Group LLC bought a new position in Cannae during the 1st quarter valued at $49,000. Spire Wealth Management boosted its stake in Cannae by 81.4% during the 1st quarter. Spire Wealth Management now owns 4,100 shares of the company's stock valued at $75,000 after purchasing an additional 1,840 shares in the last quarter. Ameriflex Group Inc. bought a new position in Cannae during the 4th quarter valued at $122,000. Finally, GAMMA Investing LLC boosted its stake in Cannae by 2,236.9% during the 1st quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock valued at $154,000 after purchasing an additional 8,053 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Cannae news, Director Frank R. Martire sold 26,478 shares of Cannae stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.90% of the company's stock.
Cannae Stock Up 1.2%
Shares of CNNE traded up $0.23 during mid-day trading on Tuesday, reaching $18.89. The company's stock had a trading volume of 354,851 shares, compared to its average volume of 657,616. The business has a fifty day moving average of $20.04 and a 200 day moving average of $18.93. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -2.82 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 quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05.
Cannae Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 16th. 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 yield of 3.2%. Cannae's dividend payout ratio (DPR) is presently -7.16%.
Wall Street Analyst Weigh In
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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Cannae has a consensus rating of "Buy" and a consensus price target of $24.00.
Read Our Latest Stock Analysis on CNNE
Cannae Company Profile
(
Free Report)
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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