Prime Capital Investment Advisors LLC Sells 2,660 Shares of Icahn Enterprises L.P. (NASDAQ:IEP)

Prime Capital Investment Advisors LLC lowered its stake in Icahn Enterprises L.P. (NASDAQ:IEP) by 15.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,821 shares of the conglomerate’s stock after selling 2,660 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Icahn Enterprises were worth $255,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Icahn Enterprises by 8.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,661 shares of the conglomerate’s stock worth $135,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Icahn Enterprises by 140.8% during the first quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 300 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of Icahn Enterprises by 11.6% during the first quarter. Belpointe Asset Management LLC now owns 3,496 shares of the conglomerate’s stock worth $181,000 after purchasing an additional 363 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Icahn Enterprises by 8.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,867 shares of the conglomerate’s stock worth $247,000 after purchasing an additional 387 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Icahn Enterprises by 3.0% during the fourth quarter. JPMorgan Chase & Co. now owns 14,265 shares of the conglomerate’s stock worth $723,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.

Icahn Enterprises Price Performance

IEP stock opened at $17.31 on Friday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -9.56 and a beta of 0.84. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 1.19. Icahn Enterprises L.P. has a 12-month low of $15.00 and a 12-month high of $52.93. The company’s fifty day simple moving average is $18.44 and its 200 day simple moving average is $17.91.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, February 28th. The conglomerate reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.54). The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.73 billion. Icahn Enterprises had a negative net margin of 6.21% and a negative return on equity of 9.60%. On average, analysts expect that Icahn Enterprises L.P. will post 0.93 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Monday, March 11th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 23.11%. The ex-dividend date of this dividend is Friday, March 8th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -220.99%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th.

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.