JPMorgan Chase & Co. trimmed its position in Icahn Enterprises LP (NASDAQ:IEP) by 29.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,990 shares of the conglomerate’s stock after selling 6,950 shares during the period. JPMorgan Chase & Co.’s holdings in Icahn Enterprises were worth $937,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Moloney Securities Asset Management LLC acquired a new position in Icahn Enterprises in the third quarter valued at approximately $202,000. Virtu KCG Holdings LLC acquired a new position in Icahn Enterprises in the second quarter valued at approximately $221,000. The Manufacturers Life Insurance Company boosted its stake in Icahn Enterprises by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 4,738 shares of the conglomerate’s stock valued at $244,000 after acquiring an additional 431 shares during the period. Moors & Cabot Inc. boosted its stake in Icahn Enterprises by 8.1% in the second quarter. Moors & Cabot Inc. now owns 5,788 shares of the conglomerate’s stock valued at $299,000 after acquiring an additional 434 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Icahn Enterprises by 32.5% in the third quarter. CIBC Asset Management Inc now owns 5,478 shares of the conglomerate’s stock valued at $301,000 after acquiring an additional 1,344 shares during the period. Institutional investors and hedge funds own 97.46% of the company’s stock.
Icahn Enterprises LP (IEP) opened at $55.89 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $9,450.00, a P/E ratio of 4.85 and a beta of 1.76. Icahn Enterprises LP has a 52-week low of $47.06 and a 52-week high of $61.50.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Monday, November 13th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $6.00 annualized dividend and a dividend yield of 10.74%. Icahn Enterprises’s dividend payout ratio is presently 13.01%.
A number of brokerages have commented on IEP. BidaskClub upgraded Icahn Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. ValuEngine downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, UBS Group lifted their target price on Icahn Enterprises from $39.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $51.50.
Icahn Enterprises Profile
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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