Icahn Enterprises L.P. $IEP Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) by 78.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,114 shares of the conglomerate's stock after selling 41,645 shares during the period. Janney Montgomery Scott LLC's holdings in Icahn Enterprises were worth $89,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IEP. Cambridge Investment Research Advisors Inc. grew its position in Icahn Enterprises by 17.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,107 shares of the conglomerate's stock worth $309,000 after acquiring an additional 5,177 shares during the period. Spire Wealth Management grew its position in Icahn Enterprises by 57.1% in the first quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate's stock worth $50,000 after acquiring an additional 2,000 shares during the period. M&T Bank Corp purchased a new position in Icahn Enterprises in the first quarter worth approximately $161,000. WMG Financial Advisors LLC purchased a new position in Icahn Enterprises in the first quarter worth approximately $95,000. Finally, National Bank of Canada FI grew its position in Icahn Enterprises by 20.0% in the first quarter. National Bank of Canada FI now owns 30,000 shares of the conglomerate's stock worth $272,000 after acquiring an additional 5,000 shares during the period. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Icahn Enterprises Stock Performance

NASDAQ:IEP opened at $8.18 on Wednesday. The firm has a market capitalization of $4.69 billion, a PE ratio of -6.65 and a beta of 0.79. The business's fifty day moving average price is $8.38 and its 200 day moving average price is $8.60. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.40 and a quick ratio of 3.40. Icahn Enterprises L.P. has a 12 month low of $7.27 and a 12 month high of $15.65.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The conglomerate reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.44). Icahn Enterprises had a negative return on equity of 15.65% and a negative net margin of 6.78%.The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.39 billion. On average, sell-side analysts anticipate that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Monday, August 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 24.4%. The ex-dividend date was Monday, August 18th. Icahn Enterprises's dividend payout ratio (DPR) is presently -162.60%.

Wall Street Analyst Weigh In

IEP has been the subject of several analyst reports. Wall Street Zen upgraded Icahn Enterprises from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Icahn Enterprises in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Icahn Enterprises from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

Icahn Enterprises Profile

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.

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