Beverly Hills Private Wealth LLC Sells 7,992 Shares of Oppenheimer Holdings, Inc. $OPY

Key Points

• Beverly Hills Private Wealth LLC reduced its stake in Oppenheimer Holdings by 27.5% in the second quarter, now owning 21,038 shares valued at approximately $1.38 million.
• Oppenheimer's stock received a consensus rating of "Buy" from analysts, with Wall Street Zen upgrading its rating to "strong-buy."
• The company recently declared a $0.18 quarterly dividend, indicating an annualized dividend yield of 1.1% and a payout ratio of 9.34%.

Beverly Hills Private Wealth LLC lessened its stake in Oppenheimer Holdings, Inc. (NYSE:OPY - Free Report) by 27.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,038 shares of the financial services provider's stock after selling 7,992 shares during the quarter. Beverly Hills Private Wealth LLC owned 0.20% of Oppenheimer worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of OPY. GAMMA Investing LLC raised its holdings 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 worth $156,000 after buying an additional 2,593 shares during the last quarter. Caxton Associates LLP purchased a new position in Oppenheimer in the 1st quarter worth approximately $206,000. State of Wyoming lifted its position in Oppenheimer by 16.0% in the 1st quarter. State of Wyoming now owns 5,109 shares of the financial services provider's stock valued at $305,000 after acquiring an additional 706 shares in the last quarter. Inspire Investing LLC boosted its stake in Oppenheimer by 2.5% during the 2nd quarter. Inspire Investing LLC now owns 5,965 shares of the financial services provider's stock valued at $392,000 after purchasing an additional 145 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Oppenheimer by 39.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider's stock worth $486,000 after purchasing an additional 2,296 shares in the last quarter. 32.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OPY. Wall Street Zen raised Oppenheimer from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th. Weiss Ratings restated a "buy (b-)" rating on shares of Oppenheimer in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oppenheimer presently has a consensus rating of "Buy".

Oppenheimer Stock Performance

OPY stock opened at $67.08 on Monday. Oppenheimer Holdings, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $79.99. The business's 50-day moving average is $72.71 and its two-hundred day moving average is $66.95. The company has a market cap of $705.71 million, a price-to-earnings ratio of 8.70 and a beta of 1.18.

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

Oppenheimer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.18 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.1%. Oppenheimer's dividend payout ratio (DPR) is presently 9.34%.

Insider Buying and Selling at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 2,000 shares of Oppenheimer stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $73.81, for a total transaction of $147,620.00. Following the transaction, the insider owned 21,766 shares in the company, valued at $1,606,548.46. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 34.25% of the stock is owned by corporate insiders.

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.

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