Jump Financial LLC Makes New $261,000 Investment 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 Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,253 shares of the company's stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNNE. Summit Securities Group LLC bought a new stake in shares of Cannae during the 1st quarter valued at about $49,000. American Century Companies Inc. grew its position in shares of Cannae by 9.0% in the 1st quarter. American Century Companies Inc. now owns 140,277 shares of the company's stock worth $2,571,000 after buying an additional 11,528 shares during the last quarter. Nuveen LLC purchased a new stake in Cannae during the 1st quarter worth approximately $14,816,000. Aigen Investment Management LP purchased a new stake in shares of Cannae during the first quarter worth $299,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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. Institutional investors and hedge funds own 88.12% of the company's stock.

Insiders Place Their Bets

In other news, Director Frank R. Martire sold 26,478 shares of Cannae stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 Securities & Exchange Commission, which is available at this link. 10.90% of the stock is owned by insiders.

Cannae Stock Down 0.5%

CNNE stock traded down $0.10 during trading on Monday, reaching $18.65. 370,496 shares of the stock were exchanged, compared to its average volume of 656,594. Cannae Holdings, Inc. has a twelve month low of $15.91 and a twelve month high of $22.36. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05. The firm's 50 day moving average is $20.08 and its 200 day moving average is $18.94. The firm has a market cap of $1.04 billion, a P/E ratio of -2.78 and a beta of 1.08.

Cannae Increases Dividend

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

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted 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, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.