Nuveen LLC Purchases Shares of 808,301 Cannae Holdings, Inc. $CNNE

Key Points

• Nuveen LLC has made a new investment of approximately $14.82 million in Cannae Holdings, acquiring 808,301 shares, which represents about 1.29% of the company.
• Cannae Holdings has recently increased its quarterly dividend from $0.12 to $0.15, reflecting a positive change and a dividend yield of 3.3%.
• Royal Bank of Canada raised its price target for Cannae from $22.00 to $26.00, contributing to a consensus rating of "Buy" among analysts.

Nuveen LLC bought a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 808,301 shares of the company's stock, valued at approximately $14,816,000. Nuveen LLC owned 1.29% of Cannae at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Cannae by 460.7% in 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 during the period. Spire Wealth Management grew its holdings in shares of Cannae by 81.4% during the first quarter. Spire Wealth Management now owns 4,100 shares of the company's stock worth $75,000 after purchasing an additional 1,840 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Cannae in the 4th quarter worth approximately $122,000. GAMMA Investing LLC raised its holdings in Cannae by 2,236.9% during the first quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock valued at $154,000 after acquiring an additional 8,053 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Cannae in the fourth quarter valued at $214,000. 88.12% of the stock is currently owned by institutional investors.

Cannae Trading Up 0.7%

Shares of NYSE CNNE traded up $0.13 during midday trading on Monday, reaching $18.62. 264,155 shares of the stock were exchanged, compared to its average volume of 655,127. The company has a market capitalization of $1.04 billion, a P/E ratio of -2.78 and a beta of 1.06. 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 stock has a 50 day moving average price of $20.40 and a 200-day moving average price of $19.01. Cannae Holdings, Inc. has a 52-week low of $15.91 and a 52-week high of $22.36.

Cannae Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This is an increase 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 payout ratio is presently -7.16%.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada increased their price objective on shares of 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.com, Cannae currently has an average rating of "Buy" and a consensus price target of $24.00.

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.