Raymond James Financial Inc. Takes Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Raymond James Financial Inc. purchased a new position in shares of Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 111,709 shares of the conglomerate's stock, valued at approximately $969,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Icahn Enterprises by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate's stock worth $5,518,000 after purchasing an additional 12,421 shares during the last quarter. Merit Financial Group LLC bought a new position in Icahn Enterprises in the 4th quarter worth $343,000. Corps Capital Advisors LLC acquired a new position in Icahn Enterprises during the 4th quarter worth $198,000. National Bank of Canada FI grew its position in shares of Icahn Enterprises by 12.5% in the third quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate's stock valued at $304,000 after purchasing an additional 2,500 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Icahn Enterprises in the fourth quarter worth about $193,000. Institutional investors own 87.09% of the company's stock.

Icahn Enterprises Stock Performance

Shares of Icahn Enterprises stock traded up $0.63 during midday trading on Wednesday, hitting $8.43. The company had a trading volume of 1,102,199 shares, compared to its average volume of 951,982. The stock has a market cap of $4.41 billion, a PE ratio of -7.73 and a beta of 0.77. Icahn Enterprises L.P. has a 1-year low of $7.27 and a 1-year high of $19.10. The business's 50 day simple moving average is $9.49 and its two-hundred day simple moving average is $10.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. As a group, equities analysts predict that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 23.72%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises's payout ratio is presently -210.53%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Icahn Enterprises from a "sell" rating to a "hold" rating in a research note on Wednesday, March 26th.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.