Merit Financial Group LLC Takes $343,000 Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Merit Financial Group LLC purchased a new position in Icahn Enterprises L.P. (NASDAQ:IEP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,585 shares of the conglomerate’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC grew its stake in shares of Icahn Enterprises by 6.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after acquiring an additional 855 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Icahn Enterprises by 61.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 1,083 shares during the last quarter. Barclays PLC grew its position in Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after purchasing an additional 1,427 shares during the last quarter. PSI Advisors LLC increased its stake in Icahn Enterprises by 4.8% during the 3rd quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate’s stock valued at $426,000 after purchasing an additional 1,455 shares in the last quarter. Finally, United Advisor Group LLC raised its holdings in Icahn Enterprises by 7.7% in the third quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock worth $391,000 after buying an additional 2,079 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.

Icahn Enterprises Trading Down 0.5 %

NASDAQ:IEP opened at $9.80 on Friday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -8.99 and a beta of 0.80. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average price is $9.92 and its 200-day moving average price is $12.91. Icahn Enterprises L.P. has a 52 week low of $8.53 and a 52 week high of $22.59.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Friday, November 8th. The conglomerate reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.16). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.32 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. During the same period in the previous year, the business posted ($0.01) EPS. On average, equities research analysts forecast that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Monday, November 18th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 20.41%. The ex-dividend date of this dividend was Monday, November 18th. Icahn Enterprises’s dividend payout ratio is currently -183.48%.

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.