Trexquant Investment LP Invests $795,000 in Cannae Holdings, Inc. $CNNE

Key Points

• Trexquant Investment LP invested approximately $795,000 in Cannae Holdings, acquiring 43,393 shares, marking significant institutional interest in the company.
• Royal Bank of Canada raised its price target for Cannae from $22.00 to $26.00, reflecting a positive outlook with a consensus rating of "Buy" and a price target of $24.00.
• Cannae Holdings announced a quarterly dividend increase from $0.12 to $0.15 per share, which will be paid to shareholders of record on September 16th, representing a 3.2% yield.

Trexquant Investment LP acquired a new stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 43,393 shares of the company's stock, valued at approximately $795,000. Trexquant Investment LP owned approximately 0.07% of Cannae at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in Cannae by 6.3% during the first quarter. Park Avenue Securities LLC now owns 13,089 shares of the company's stock valued at $240,000 after purchasing an additional 777 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cannae by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company's stock valued at $637,000 after purchasing an additional 1,151 shares during the period. Crescent Grove Advisors LLC grew its holdings in Cannae by 0.4% during the first quarter. Crescent Grove Advisors LLC now owns 325,479 shares of the company's stock valued at $5,966,000 after purchasing an additional 1,259 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 valued at $38,000 after purchasing an additional 1,700 shares during the period. Finally, Spire Wealth Management grew its holdings in Cannae by 81.4% during the first 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 during the period. Institutional investors and hedge funds own 88.12% of the company's stock.

Cannae Stock Down 1.0%

CNNE traded down $0.19 during trading on Friday, reaching $19.10. The company had a trading volume of 602,822 shares, compared to its average volume of 656,672. 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 12 month low of $15.91 and a 12 month high of $22.36. The business's fifty day moving average price is $19.87 and its 200 day moving average price is $18.93. The company has a market cap of $1.07 billion, a P/E ratio of -2.85 and a beta of 1.08.

Cannae Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.15 dividend. This is a boost from Cannae's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Cannae's payout ratio is presently -7.16%.

Wall Street Analyst Weigh In

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

Insider Activity at Cannae

In other news, Director Frank R. Martire sold 26,478 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.43, for a total value of $487,989.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 10.90% of the stock is currently owned by corporate insiders.

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.