Jump Financial LLC Buys New Stake in Cannae Holdings, Inc. $CNNE

Key Points

• Jump Financial LLC has acquired a new position in Cannae Holdings, purchasing 14,253 shares valued at approximately $261,000 in the first quarter.
• Institutional investors own 88.12% of Cannae's stock, with significant purchases and increases in positions reported by several firms in the last quarter.
• Cannae Holdings announced an increase in its quarterly dividend from $0.12 to $0.15 per share, reflecting a dividend yield of 3.2% for shareholders of record.

Jump Financial LLC acquired a new stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,253 shares of the company's stock, valued at approximately $261,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Cannae in the first quarter valued at approximately $49,000. American Century Companies Inc. lifted its stake in Cannae by 9.0% during the first quarter. American Century Companies Inc. now owns 140,277 shares of the company's stock worth $2,571,000 after purchasing an additional 11,528 shares in the last quarter. Nuveen LLC acquired a new position in Cannae during the first quarter worth $14,816,000. Aigen Investment Management LP acquired a new position in Cannae during the first quarter worth $299,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Cannae by 460.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company's stock worth $38,000 after purchasing an additional 1,700 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cannae Stock Up 1.0%

Shares of NYSE CNNE traded up $0.19 during mid-day trading on Tuesday, hitting $18.85. The company had a trading volume of 154,782 shares, compared to its average volume of 656,216. The company has a market capitalization of $1.06 billion, a PE ratio of -2.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.78 and a quick ratio of 2.78. Cannae Holdings, Inc. has a 1-year low of $15.91 and a 1-year high of $22.36. The business's 50-day simple moving average is $20.04 and its 200 day simple moving average is $18.93.

Cannae Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, September 16th. This is an increase from Cannae's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 3.2%. Cannae's payout ratio is -7.16%.

Insider Activity

In other news, Director Frank R. Martire sold 26,478 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total value of $487,989.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.90% of the company's stock.

Cannae 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.