Oppenheimer (NYSE:OPY) Reaches New 1-Year High – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY) hit a new 52-week high on Monday . The stock traded as high as $117.19 and last traded at $114.2420, with a volume of 79748 shares. The stock had previously closed at $114.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Oppenheimer Stock Up 0.3%

The business has a fifty day simple moving average of $91.68 and a 200 day simple moving average of $79.46. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 8.73 and a beta of 1.14.

Oppenheimer (NYSE:OPY) last released its earnings results on Friday, January 30th. The financial services provider reported $6.51 EPS for the quarter. Oppenheimer had a return on equity of 16.10% and a net margin of 9.06%.The company had revenue of $472.63 million during the quarter.

Oppenheimer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.72 dividend on an annualized basis and a yield of 0.6%. Oppenheimer’s dividend payout ratio (DPR) is 5.52%.

Insider Buying and Selling at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 4,673 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares in the company, valued at $1,829,448.59. This trade represents a 18.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 34.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Oppenheimer by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 493,218 shares of the financial services provider’s stock valued at $36,456,000 after buying an additional 2,911 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Oppenheimer by 2.5% in the third quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider’s stock valued at $31,488,000 after buying an additional 10,345 shares in the last quarter. American Century Companies Inc. increased its position in shares of Oppenheimer by 17.3% in the third quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock valued at $22,115,000 after buying an additional 44,145 shares in the last quarter. Millennium Management LLC increased its position in shares of Oppenheimer by 56.6% in the fourth quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock valued at $8,294,000 after buying an additional 41,485 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Oppenheimer by 18.0% in the third quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider’s stock valued at $8,308,000 after buying an additional 17,122 shares in the last quarter. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

Oppenheimer & Co Inc is a full-service investment bank and wealth management firm headquartered in New York City. Founded in the mid-20th century, the company provides a broad array of financial services to individual, institutional and corporate clients. Its core competencies include equity and fixed-income research, institutional sales and trading, underwriting and merger-and-acquisition advisory.

In the wealth management segment, Oppenheimer offers tailored investment solutions, comprehensive financial planning and retirement strategies.