Round Hill Asset Management Trims Position in Icahn Enterprises LP (NASDAQ:IEP)
Round Hill Asset Management decreased its position in shares of Icahn Enterprises LP (NASDAQ:IEP) by 0.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 27,184 shares of the conglomerate’s stock after selling 158 shares during the period. Icahn Enterprises accounts for approximately 1.1% of Round Hill Asset Management’s portfolio, making the stock its 22nd largest holding. Round Hill Asset Management’s holdings in Icahn Enterprises were worth $1,968,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Strategic Wealth Management Inc. purchased a new position in Icahn Enterprises during the second quarter worth approximately $2,879,000. Raymond James & Associates raised its stake in Icahn Enterprises by 9.2% during the first quarter. Raymond James & Associates now owns 38,886 shares of the conglomerate’s stock worth $2,819,000 after purchasing an additional 3,290 shares during the period. Commonwealth Equity Services LLC raised its stake in Icahn Enterprises by 18.6% during the second quarter. Commonwealth Equity Services LLC now owns 28,599 shares of the conglomerate’s stock worth $2,070,000 after purchasing an additional 4,493 shares during the period. Renaissance Technologies LLC raised its stake in Icahn Enterprises by 456.1% during the second quarter. Renaissance Technologies LLC now owns 22,800 shares of the conglomerate’s stock worth $1,651,000 after purchasing an additional 18,700 shares during the period. Finally, Cetera Advisors LLC raised its stake in Icahn Enterprises by 6.7% during the second quarter. Cetera Advisors LLC now owns 19,100 shares of the conglomerate’s stock worth $1,384,000 after purchasing an additional 1,197 shares during the period. 96.84% of the stock is currently owned by institutional investors and hedge funds.
IEP has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group cut their price target on shares of Icahn Enterprises from $56.00 to $55.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th.
Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Tuesday, August 6th. The conglomerate reported ($2.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($2.69). Icahn Enterprises had a negative return on equity of 10.95% and a net margin of 1.86%. The business had revenue of $2.20 billion during the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, August 13th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 11.83%. The ex-dividend date of this dividend is Monday, August 12th.
About Icahn Enterprises
Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.
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