Oppenheimer Holdings, Inc. (NYSE:OPY – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $83.41 and traded as high as $96.15. Oppenheimer shares last traded at $94.09, with a volume of 77,835 shares trading hands.
Wall Street Analysts Forecast Growth
OPY has been the topic of several research reports. Weiss Ratings lowered Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Oppenheimer presently has an average rating of “Moderate Buy”.
Check Out Our Latest Report on Oppenheimer
Oppenheimer Stock Up 2.8%
Oppenheimer (NYSE:OPY – Get Free Report) last posted its earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.The company had revenue of $445.10 million for the quarter.
Oppenheimer Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, May 15th. Oppenheimer’s payout ratio is presently 9.54%.
Insider Transactions at Oppenheimer
In other news, insider Dennis P. Mcnamara sold 4,673 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $90.67, for a total transaction of $423,700.91. Following the sale, the insider owned 20,177 shares in the company, valued at approximately $1,829,448.59. The trade was a 18.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.86% of the stock is owned by company insiders.
Institutional Investors Weigh In On Oppenheimer
A number of large investors have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Oppenheimer by 48.6% during the first quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider’s stock worth $4,109,000 after acquiring an additional 15,073 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Oppenheimer during the first quarter worth about $1,590,000. Renaissance Technologies LLC grew its stake in shares of Oppenheimer by 1.8% during the first quarter. Renaissance Technologies LLC now owns 22,800 shares of the financial services provider’s stock worth $2,034,000 after acquiring an additional 400 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Oppenheimer by 9.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 72,035 shares of the financial services provider’s stock worth $6,425,000 after acquiring an additional 5,971 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Oppenheimer by 57.9% during the first quarter. Sei Investments Co. now owns 12,532 shares of the financial services provider’s stock worth $1,118,000 after acquiring an additional 4,593 shares during the last quarter. Hedge funds and other institutional investors own 32.26% of the company’s stock.
About Oppenheimer
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.
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