Oppenheimer Holdings, Inc. $OPY Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its holdings in Oppenheimer Holdings, Inc. by 17.2%, now owning 227,389 shares worth approximately $13.56 million.
• Oppenheimer recently announced a quarterly dividend of $0.18 per share, with a yield of 1.0% and a payout ratio of 9.34%.
• Analysts at Wall Street Zen have raised Oppenheimer from a "hold" rating to a "strong-buy" rating, indicating increased investor confidence.

American Century Companies Inc. boosted its holdings in Oppenheimer Holdings, Inc. (NYSE:OPY - Free Report) by 17.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,389 shares of the financial services provider's stock after purchasing an additional 33,433 shares during the quarter. American Century Companies Inc. owned approximately 2.16% of Oppenheimer worth $13,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd acquired a new position in Oppenheimer in the fourth quarter valued at $77,000. Tower Research Capital LLC TRC acquired a new position in Oppenheimer in the fourth quarter valued at $87,000. GAMMA Investing LLC increased its stake in Oppenheimer by 8,364.5% in the first quarter. GAMMA Investing LLC now owns 2,624 shares of the financial services provider's stock valued at $156,000 after purchasing an additional 2,593 shares during the last quarter. Jump Financial LLC acquired a new position in Oppenheimer in the fourth quarter valued at $205,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Oppenheimer in the fourth quarter valued at $222,000. 32.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Oppenheimer

In related news, insider Dennis P. Mcnamara sold 2,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $73.81, for a total value of $147,620.00. Following the completion of the sale, the insider directly owned 21,766 shares in the company, valued at approximately $1,606,548.46. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul M. Friedman sold 3,500 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $63.32, for a total transaction of $221,620.00. Following the completion of the transaction, the director owned 20,500 shares in the company, valued at $1,298,060. This represents a 14.58% decrease in their position. The disclosure for this sale can be found here. 34.25% of the stock is currently owned by corporate insiders.

Oppenheimer Price Performance

NYSE OPY traded up $1.17 during trading hours on Friday, hitting $72.72. The company had a trading volume of 56,148 shares, compared to its average volume of 37,130. Oppenheimer Holdings, Inc. has a fifty-two week low of $47.39 and a fifty-two week high of $77.83. The company has a market capitalization of $765.04 million, a price-to-earnings ratio of 9.43 and a beta of 1.21. The firm's 50 day moving average is $70.21 and its 200 day moving average is $64.19.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 10.13% and a net margin of 5.88%.The firm had revenue of $373.18 million during the quarter.

Oppenheimer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 15th. Oppenheimer's dividend payout ratio is currently 9.34%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Oppenheimer from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th.

Oppenheimer Profile

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.