Wealth Enhancement Advisory Services LLC Makes New Investment in Icahn Enterprises L.P. (NASDAQ:IEP)

Wealth Enhancement Advisory Services LLC bought a new stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,115 shares of the conglomerate’s stock, valued at approximately $164,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IEP. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Icahn Enterprises by 61.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after buying an additional 1,083 shares during the period. KPP Advisory Services LLC bought a new stake in Icahn Enterprises during the second quarter valued at about $187,000. Insigneo Advisory Services LLC acquired a new stake in shares of Icahn Enterprises in the second quarter valued at about $201,000. Valeo Financial Advisors LLC acquired a new stake in shares of Icahn Enterprises in the third quarter valued at about $203,000. Finally, Vima LLC acquired a new position in shares of Icahn Enterprises during the 2nd quarter worth about $220,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

Icahn Enterprises Stock Performance

IEP opened at $12.58 on Wednesday. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $13.18 and its two-hundred day moving average price is $15.37. The firm has a market capitalization of $5.98 billion, a P/E ratio of -11.54 and a beta of 0.78. Icahn Enterprises L.P. has a 12-month low of $9.72 and a 12-month high of $22.59.

Icahn Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 15.90%. The ex-dividend date of this dividend is Monday, November 18th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -183.49%.

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.