Citigroup Inc. Increases Position in Icahn Enterprises L.P. (IEP)
Citigroup Inc. boosted its position in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,900,594 shares of the conglomerate’s stock after buying an additional 344,402 shares during the quarter. Icahn Enterprises L.P. accounts for approximately 0.3% of Citigroup Inc.’s investment portfolio, making the stock its 22nd largest position. Citigroup Inc. owned approximately 3.68% of Icahn Enterprises L.P. worth $304,825,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Ffcm LLC acquired a new position in shares of Icahn Enterprises L.P. in the 2nd quarter valued at $112,000. Global X Management Co. LLC boosted its position in shares of Icahn Enterprises L.P. by 4.2% in the 2nd quarter. Global X Management Co. LLC now owns 2,420 shares of the conglomerate’s stock valued at $125,000 after purchasing an additional 97 shares during the period. IPG Investment Advisors LLC acquired a new position in shares of Icahn Enterprises L.P. in the 2nd quarter valued at $207,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Icahn Enterprises L.P. by 24.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,924 shares of the conglomerate’s stock valued at $358,000 after purchasing an additional 1,345 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Icahn Enterprises L.P. by 8.3% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 7,500 shares of the conglomerate’s stock valued at $387,000 after purchasing an additional 574 shares during the period. 96.83% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on IEP. TheStreet upgraded Icahn Enterprises L.P. from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th. BidaskClub downgraded Icahn Enterprises L.P. from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC reissued a “buy” rating and issued a $61.00 price objective on shares of Icahn Enterprises L.P. in a research note on Wednesday, August 9th. Finally, ValuEngine raised Icahn Enterprises L.P. from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.
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Shares of Icahn Enterprises L.P. (NASDAQ:IEP) traded down 0.450% during midday trading on Tuesday, reaching $54.026. The company had a trading volume of 19,638 shares. The company’s 50-day moving average is $52.37 and its 200-day moving average is $51.25. The firm has a market cap of $8.90 billion, a P/E ratio of 6.196 and a beta of 1.72. Icahn Enterprises L.P. has a 52-week low of $45.42 and a 52-week high of $64.80.
Icahn Enterprises L.P. (NASDAQ:IEP) last posted its earnings results on Tuesday, August 8th. The conglomerate reported $9.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $9.02. Icahn Enterprises L.P. had a return on equity of 15.51% and a net margin of 6.35%. The firm had revenue of $6.65 billion during the quarter. Equities research analysts expect that Icahn Enterprises L.P. will post $9.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 14th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $6.00 dividend on an annualized basis and a yield of 11.06%. Icahn Enterprises L.P.’s payout ratio is 38.22%.
Icahn Enterprises L.P. Profile
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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