Griffin Asset Management Inc. Raises Stock Holdings in Icahn Enterprises L.P. (NASDAQ:IEP)

Griffin Asset Management Inc. grew its stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,970 shares of the conglomerate’s stock after acquiring an additional 2,887 shares during the quarter. Griffin Asset Management Inc.’s holdings in Icahn Enterprises were worth $540,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position in Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 1,083 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Icahn Enterprises during the 4th quarter valued at about $175,000. KPP Advisory Services LLC purchased a new stake in shares of Icahn Enterprises during the 2nd quarter valued at about $187,000. Insigneo Advisory Services LLC bought a new position in shares of Icahn Enterprises in the 2nd quarter worth approximately $201,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Icahn Enterprises in the third quarter worth approximately $203,000. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Stock Performance

Shares of NASDAQ IEP opened at $14.50 on Thursday. Icahn Enterprises L.P. has a 12-month low of $9.72 and a 12-month high of $22.59. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of -12.61 and a beta of 0.77. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average of $13.77 and a 200 day moving average of $15.85.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.91). Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm earned ($0.72) EPS. On average, research analysts anticipate that Icahn Enterprises L.P. will post -0.42 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 27.59%. The ex-dividend date was Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -347.83%.

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.