Icahn Enterprises L.P. (NASDAQ:IEP) Shares Sold by Summit Securities Group LLC

Summit Securities Group LLC trimmed its holdings in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 52.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,581 shares of the conglomerate’s stock after selling 3,961 shares during the quarter. Summit Securities Group LLC’s holdings in Icahn Enterprises were worth $31,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Merit Financial Group LLC acquired a new stake in shares of Icahn Enterprises in the fourth quarter valued at about $343,000. MML Investors Services LLC purchased a new stake in shares of Icahn Enterprises during the third quarter valued at approximately $171,000. Barclays PLC lifted its position in shares of Icahn Enterprises by 24.3% during the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 1,427 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Icahn Enterprises in the fourth quarter valued at $856,000. Finally, Geode Capital Management LLC grew its holdings in Icahn Enterprises by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock valued at $5,518,000 after purchasing an additional 12,421 shares in the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Icahn Enterprises Trading Down 1.0 %

Shares of IEP opened at $9.21 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. Icahn Enterprises L.P. has a one year low of $8.53 and a one year high of $19.10. The stock has a 50-day moving average price of $9.74 and a 200 day moving average price of $11.03. The company has a market capitalization of $4.81 billion, a P/E ratio of -8.45 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.27 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. Sell-side analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 21.72%. The ex-dividend date is Monday, March 10th. Icahn Enterprises’s payout ratio is currently -210.53%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Icahn Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, March 26th.

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.