Raymond James Financial Inc. Invests $969,000 in Icahn Enterprises L.P. (NASDAQ:IEP)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of IEP. National Bank of Canada FI increased its position in Icahn Enterprises by 11.1% during the fourth quarter. National Bank of Canada FI now owns 25,000 shares of the conglomerate's stock worth $217,000 after buying an additional 2,500 shares during the last quarter. Caz Investments LP acquired a new position in Icahn Enterprises during the fourth quarter worth approximately $87,000. Virtu Financial LLC acquired a new position in Icahn Enterprises during the fourth quarter worth approximately $856,000. Axxcess Wealth Management LLC acquired a new position in Icahn Enterprises during the fourth quarter worth approximately $447,000. Finally, Moors & Cabot Inc. increased its position in Icahn Enterprises by 8.1% during the fourth quarter. Moors & Cabot Inc. now owns 48,355 shares of the conglomerate's stock worth $419,000 after buying an additional 3,642 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Icahn Enterprises from a "hold" rating to a "sell" rating in a report on Friday.

Icahn Enterprises Price Performance

Shares of IEP stock traded up $0.21 during trading on Friday, hitting $8.75. The company had a trading volume of 516,036 shares, compared to its average volume of 947,707. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The firm has a market capitalization of $4.78 billion, a P/E ratio of -8.03 and a beta of 0.79. The stock's 50-day moving average price is $8.87 and its 200 day moving average price is $9.90. Icahn Enterprises L.P. has a one year low of $7.27 and a one year high of $18.84.

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

Icahn Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, May 19th. This represents a $2.00 annualized dividend and a dividend yield of 22.86%. 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.