Planning Capital Management Corp Invests $34,000 in Icahn Enterprises L.P. (NASDAQ:IEP)

Planning Capital Management Corp acquired a new stake in Icahn Enterprises L.P. (NASDAQ:IEP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,515 shares of the conglomerate’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IEP. Prime Capital Investment Advisors LLC increased its stake in Icahn Enterprises by 6.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock valued at $192,000 after buying an additional 855 shares during the last quarter. PSI Advisors LLC boosted its holdings in shares of Icahn Enterprises by 3.4% during the 2nd quarter. PSI Advisors LLC now owns 30,055 shares of the conglomerate’s stock worth $495,000 after buying an additional 990 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Icahn Enterprises by 61.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after buying an additional 1,083 shares in the last quarter. United Advisor Group LLC raised its position in shares of Icahn Enterprises by 7.7% in the 3rd quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock valued at $391,000 after buying an additional 2,079 shares in the last quarter. Finally, Stablepoint Partners LLC increased its position in Icahn Enterprises by 12.2% during the 2nd quarter. Stablepoint Partners LLC now owns 25,000 shares of the conglomerate’s stock worth $433,000 after purchasing an additional 2,719 shares in the last quarter. 87.09% of the stock is owned by institutional investors.

Icahn Enterprises Trading Up 1.1 %

Shares of NASDAQ IEP opened at $12.56 on Friday. The firm has a 50 day moving average price of $13.21 and a two-hundred day moving average price of $15.33. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.85 and a current ratio of 4.61. Icahn Enterprises L.P. has a 52-week low of $9.72 and a 52-week high of $22.59. The stock has a market cap of $6.33 billion, a P/E ratio of -11.52 and a beta of 0.78.

Icahn Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, November 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 15.92%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -366.97%.

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.