Raymond James Financial Inc. Acquires New Stake in Icahn Enterprises L.P. (NASDAQ:IEP)

Raymond James Financial Inc. acquired a new stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 111,709 shares of the conglomerate's stock, valued at approximately $969,000.

Other hedge funds also recently modified their holdings of the company. Meridian Wealth Management LLC lifted its stake in shares of Icahn Enterprises by 5.1% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate's stock valued at $184,000 after purchasing an additional 1,026 shares in the last quarter. Global Retirement Partners LLC grew its stake in Icahn Enterprises by 18.1% during the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate's stock worth $62,000 after buying an additional 1,089 shares during the period. Barclays PLC increased its position in shares of Icahn Enterprises by 24.3% in the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate's stock worth $100,000 after acquiring an additional 1,427 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Icahn Enterprises in the 3rd quarter valued at $30,000. Finally, National Bank of Canada FI raised its stake in shares of Icahn Enterprises by 11.1% in the 4th quarter. National Bank of Canada FI now owns 25,000 shares of the conglomerate's stock valued at $217,000 after acquiring an additional 2,500 shares during the period. 87.09% of the stock is owned by institutional investors and hedge funds.

Icahn Enterprises Stock Up 2.5 %

IEP traded up $0.21 during trading hours on Friday, reaching $8.75. 516,036 shares of the stock traded hands, compared to its average volume of 946,652. Icahn Enterprises L.P. has a fifty-two week low of $7.27 and a fifty-two week high of $18.84. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -8.03 and a beta of 0.79. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The firm's fifty day simple moving average is $8.89 and its two-hundred day simple moving average is $10.02.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.98). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.63 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. As a group, analysts forecast that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, May 19th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, May 19th. This represents a $2.00 annualized dividend and a yield of 22.86%. Icahn Enterprises's dividend payout ratio (DPR) is -210.53%.

Analyst Ratings Changes

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

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.