Prime Capital Investment Advisors LLC Raises Holdings in Icahn Enterprises L.P. (NASDAQ:IEP)

Prime Capital Investment Advisors LLC lifted its holdings in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,203 shares of the conglomerate’s stock after buying an additional 855 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Icahn Enterprises were worth $192,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake 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 in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $164,000. KPP Advisory Services LLC acquired a new stake in shares of Icahn Enterprises in the 2nd quarter worth approximately $187,000. Insigneo Advisory Services LLC acquired a new stake in shares of Icahn Enterprises in the 2nd quarter worth approximately $201,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Icahn Enterprises in the 3rd quarter worth approximately $203,000. 87.09% of the stock is owned by hedge funds and other institutional investors.

Icahn Enterprises Stock Performance

IEP opened at $12.48 on Monday. The stock has a market cap of $6.29 billion, a P/E ratio of -11.45 and a beta of 0.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.85. The stock’s 50 day simple moving average is $13.25 and its 200 day simple moving average is $15.27. Icahn Enterprises L.P. has a 1-year low of $9.72 and a 1-year high of $22.59.

Icahn Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 16.03%. The ex-dividend date of this dividend is Monday, November 18th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -366.97%.

Icahn Enterprises Company 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.