Nuveen LLC Invests $14.82 Million in 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 purchased a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 808,301 shares of the company's stock, valued at approximately $14,816,000. Nuveen LLC owned 1.29% of Cannae as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Cannae by 460.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company's stock worth $38,000 after buying an additional 1,700 shares in the last quarter. Spire Wealth Management boosted its position in shares of Cannae by 81.4% in the 1st quarter. Spire Wealth Management now owns 4,100 shares of the company's stock worth $75,000 after buying an additional 1,840 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Cannae in the 4th quarter worth about $122,000. GAMMA Investing LLC boosted its position in shares of Cannae by 2,236.9% in the 1st quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock worth $154,000 after buying an additional 8,053 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Cannae in the 4th quarter worth about $214,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Cannae Trading Up 0.9%

Shares of Cannae stock traded up $0.18 during mid-day trading on Tuesday, hitting $18.74. 706,004 shares of the stock were exchanged, compared to its average volume of 757,907. Cannae Holdings, Inc. has a twelve month low of $15.91 and a twelve month high of $22.36. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.80 and a beta of 1.06. The company has a 50-day simple moving average of $20.35 and a 200 day simple moving average of $19.00. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05.

Cannae Increases Dividend

The company 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 3.2%. This is an increase from Cannae's previous quarterly dividend of $0.12. Cannae's dividend payout ratio is -7.16%.

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.