Financial Advocates Investment Management increased its holdings in shares of Icahn Enterprises LP (NASDAQ:IEP) by 24.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,745 shares of the conglomerate’s stock after purchasing an additional 1,535 shares during the quarter. Financial Advocates Investment Management’s holdings in Icahn Enterprises were worth $406,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Morgan Stanley grew its position in Icahn Enterprises by 19.6% in the 3rd quarter. Morgan Stanley now owns 185,168 shares of the conglomerate’s stock valued at $13,096,000 after acquiring an additional 30,381 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Icahn Enterprises in the 4th quarter valued at about $1,629,000. Mutual Advisors LLC boosted its stake in shares of Icahn Enterprises by 96.2% in the 3rd quarter. Mutual Advisors LLC now owns 24,395 shares of the conglomerate’s stock valued at $1,725,000 after buying an additional 11,960 shares during the period. Bank of America Corp DE boosted its stake in shares of Icahn Enterprises by 54.7% in the 4th quarter. Bank of America Corp DE now owns 31,291 shares of the conglomerate’s stock valued at $1,786,000 after buying an additional 11,067 shares during the period. Finally, BT Wealth Management LLC purchased a new position in shares of Icahn Enterprises in the 4th quarter valued at about $643,000. 96.78% of the stock is owned by hedge funds and other institutional investors.
IEP stock traded down $0.24 on Monday, reaching $73.50. 46,600 shares of the company’s stock were exchanged, compared to its average volume of 79,139. Icahn Enterprises LP has a twelve month low of $50.33 and a twelve month high of $81.88. The company has a quick ratio of 8.55, a current ratio of 8.55 and a debt-to-equity ratio of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Monday, March 11th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 10.88%. This is an increase from Icahn Enterprises’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, March 8th.
In other news, Director Jack Gumpert Wasserman bought 500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were bought at an average cost of $77.81 per share, for a total transaction of $38,905.00. Following the completion of the transaction, the director now owns 1,562 shares in the company, valued at $121,539.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 90.10% of the stock is currently owned by insiders.
Separately, BidaskClub upgraded Icahn Enterprises from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th.
About Icahn Enterprises
Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.
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