51,537 Shares in Icahn Enterprises L.P. (NASDAQ:IEP) Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new position in Icahn Enterprises L.P. (NASDAQ:IEP) during the 4th quarter, HoldingsChannel reports. The fund acquired 51,537 shares of the conglomerate’s stock, valued at approximately $447,000.

Several other large investors also recently bought and sold shares of IEP. Wilmington Savings Fund Society FSB purchased a new position in shares of Icahn Enterprises in the third quarter worth about $30,000. Global Retirement Partners LLC lifted its stake in Icahn Enterprises by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 1,089 shares in the last quarter. Barclays PLC boosted its holdings in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 1,427 shares during the last quarter. Littlejohn Financial Services Inc. purchased a new stake in shares of Icahn Enterprises in the fourth quarter valued at approximately $121,000. Finally, MML Investors Services LLC acquired a new stake in shares of Icahn Enterprises in the third quarter valued at approximately $171,000. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Icahn Enterprises Price Performance

Shares of IEP stock opened at $9.69 on Friday. 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 company has a market capitalization of $5.07 billion, a PE ratio of -8.89 and a beta of 0.85. The firm’s 50-day moving average is $9.72 and its two-hundred day moving average is $11.10. Icahn Enterprises L.P. has a 12 month low of $8.53 and a 12 month high of $19.10.

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

Icahn Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.64%. The ex-dividend date is Monday, March 10th. Icahn Enterprises’s payout ratio is -210.53%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Sunday, March 16th.

About Icahn Enterprises

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.