On April 10, 2023 at 09:58:00 ET an unusually large $241.85K block of Put contracts in Icahn Enterprises (IEP) was bought, with a strike price of $45.00 / share, expiring in 284 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 51.10 percentile of all recent large trades made in IEP options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 36.34% Upside

As of April 6, 2023, the average one-year price target for Icahn Enterprises is $71.40. The forecasts range from a low of $70.70 to a high of $73.50. The average price target represents an increase of 36.34% from its latest reported closing price of $52.37.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Icahn Enterprises is $10,922MM, a decrease of 22.59%. The projected annual non-GAAP EPS is $0.74.

What is the Fund Sentiment?

There are 187 funds or institutions reporting positions in Icahn Enterprises. This is an increase of 9 owner(s) or 5.06% in the last quarter. Average portfolio weight of all funds dedicated to IEP is 0.48%, a decrease of 15.08%. Total shares owned by institutions increased in the last three months by 4.19% to 306,016K shares. The put/call ratio of IEP is 0.69, indicating a bullish outlook.

What are Large Shareholders Doing?

Icahn Carl C holds 299,998K shares representing 84.85% ownership of the company. In it’s prior filing, the firm reported owning 288,556K shares, representing an increase of 3.81%. The firm increased its portfolio allocation in IEP by 3.45% over the last quarter.

Horizon Kinetics Asset Management holds 447K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 453K shares, representing a decrease of 1.32%. The firm decreased its portfolio allocation in IEP by 17.51% over the last quarter.

Mirae Asset Global Investments Co. holds 298K shares representing 0.08% ownership of the company. In it’s prior filing, the firm reported owning 284K shares, representing an increase of 4.71%. The firm decreased its portfolio allocation in IEP by 43.44% over the last quarter.

Susquehanna International Group, Llp holds 289K shares representing 0.08% ownership of the company. In it’s prior filing, the firm reported owning 139K shares, representing an increase of 51.76%. The firm increased its portfolio allocation in IEP by 106.79% over the last quarter.

DIV – Global X SuperDividend U.S. ETF holds 271K shares representing 0.08% ownership of the company. In it’s prior filing, the firm reported owning 269K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in IEP by 2.96% over the last quarter.

Icahn Enterprises Declares $2.00 Dividend

On February 22, 2023 the company declared a regular quarterly dividend of $2.00 per share ($8.00 annualized). Shareholders of record as of March 13, 2023 will receive the payment on April 19, 2023. Previously, the company paid $2.00 per share.

At the current share price of $52.37 / share, the stock’s dividend yield is 15.28%. Looking back five years and taking a sample every week, the average dividend yield has been 13.55%, the lowest has been 8.75%, and the highest has been 22.19%. The standard deviation of yields is 2.33 (n=237).

The current dividend yield is 0.74 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is -15.80. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Icahn Enterprises L P Background Information
(This description is provided by the company.)

Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in eight primary business segments: Investment, Energy, Automotive, Food Packaging, Metals, Real Estate, Home Fashion and Pharma.

This article originally appeared on Fintel

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