Wells Fargo & Company MN decreased its position in shares of Icahn Enterprises LP (NASDAQ:IEP) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,084 shares of the conglomerate’s stock after selling 12,493 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Icahn Enterprises worth $8,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora lifted its holdings in Icahn Enterprises by 92.3% during the 2nd quarter. OLD Second National Bank of Aurora now owns 702 shares of the conglomerate’s stock worth $51,000 after buying an additional 337 shares during the period. Bremer Bank National Association acquired a new position in Icahn Enterprises during the 1st quarter worth about $58,000. Meridian Wealth Management LLC acquired a new position in Icahn Enterprises during the 1st quarter worth about $69,000. NEXT Financial Group Inc lifted its holdings in Icahn Enterprises by 123.1% during the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the conglomerate’s stock worth $105,000 after buying an additional 800 shares during the period. Finally, Advantage Investment Management LLC acquired a new position in Icahn Enterprises during the 2nd quarter worth about $278,000. 96.84% of the stock is currently owned by institutional investors.

Several brokerages have commented on IEP. UBS Group cut their target price on Icahn Enterprises from $56.00 to $55.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. BidaskClub downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Thursday.

IEP traded up $0.20 during midday trading on Friday, hitting $67.80. 2,453 shares of the company were exchanged, compared to its average volume of 94,433. Icahn Enterprises LP has a 1-year low of $50.33 and a 1-year high of $79.37. The firm’s 50 day moving average price is $71.04 and its 200-day moving average price is $72.39. The company has a quick ratio of 6.54, a current ratio of 6.54 and a debt-to-equity ratio of 0.76.

Icahn Enterprises (NASDAQ:IEP) last announced its earnings results on Tuesday, August 6th. The conglomerate reported ($2.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($2.69). The company had revenue of $2.20 billion for the quarter. Icahn Enterprises had a negative return on equity of 10.95% and a net margin of 1.86%.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, August 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 11.80%. The ex-dividend date of this dividend is Monday, August 12th.

Icahn Enterprises Profile

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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Institutional Ownership by Quarter for Icahn Enterprises (NASDAQ:IEP)

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