Janney Montgomery Scott LLC Increases Stock Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Janney Montgomery Scott LLC raised its stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) by 164.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,759 shares of the conglomerate's stock after purchasing an additional 32,772 shares during the quarter. Janney Montgomery Scott LLC's holdings in Icahn Enterprises were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IEP. Icahn Carl C increased its stake in shares of Icahn Enterprises by 4.1% in the fourth quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate's stock worth $3,908,333,000 after acquiring an additional 17,581,237 shares during the period. First Trust Advisors LP increased its stake in shares of Icahn Enterprises by 26.2% in the fourth quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate's stock worth $5,723,000 after acquiring an additional 137,012 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Icahn Enterprises in the fourth quarter worth $969,000. Virtu Financial LLC acquired a new stake in shares of Icahn Enterprises in the fourth quarter worth $856,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Icahn Enterprises in the fourth quarter worth $447,000. Institutional investors and hedge funds own 87.09% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Icahn Enterprises from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th.

Icahn Enterprises Stock Performance

NASDAQ IEP traded down $0.02 during mid-day trading on Friday, reaching $8.51. 484,186 shares of the stock were exchanged, compared to its average volume of 965,922. The business's 50 day moving average is $8.58 and its 200-day moving average is $9.05. Icahn Enterprises L.P. has a 1 year low of $7.27 and a 1 year high of $17.93. The company has a market capitalization of $4.65 billion, a P/E ratio of -5.16 and a beta of 0.77. The company has a debt-to-equity ratio of 1.82, a quick ratio of 3.04 and a current ratio of 3.04.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.98). Icahn Enterprises had a negative return on equity of 17.64% and a negative net margin of 8.55%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.63 billion. On average, equities research analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, May 19th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 23.49%. The ex-dividend date was Monday, May 19th. Icahn Enterprises's dividend payout ratio (DPR) is presently -121.21%.

Icahn Enterprises Company 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.