Charles Schwab Investment Management Inc. Grows Stake in Oppenheimer Holdings, Inc. $OPY

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Oppenheimer Holdings, Inc. by 581.9% during the 1st quarter, owning a total of 23,866 shares valued at approximately $1.42 million.
• Institutional investors collectively own 32.26% of Oppenheimer's stock, with significant stakes raised by firms like D. E. Shaw & Co. Inc. and Royce & Associates LP in recent months.
• Oppenheimer announced a quarterly dividend of $0.18 per share, representing an annualized yield of 1.0%, and reported earnings of $1.91 per share during its latest quarter.

Charles Schwab Investment Management Inc. raised its stake in Oppenheimer Holdings, Inc. (NYSE:OPY - Free Report) by 581.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,866 shares of the financial services provider's stock after purchasing an additional 20,366 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.23% of Oppenheimer worth $1,423,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OPY. Royce & Associates LP raised its stake in shares of Oppenheimer by 114.8% during the 1st quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock worth $4,803,000 after purchasing an additional 43,050 shares in the last quarter. Bosun Asset Management LLC boosted its holdings in Oppenheimer by 235.6% during the fourth quarter. Bosun Asset Management LLC now owns 19,883 shares of the financial services provider's stock worth $1,274,000 after buying an additional 13,958 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Oppenheimer by 44.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 33,843 shares of the financial services provider's stock worth $2,169,000 after acquiring an additional 10,387 shares in the last quarter. Vanguard Group Inc. boosted its position in Oppenheimer by 1.5% during the first quarter. Vanguard Group Inc. now owns 391,435 shares of the financial services provider's stock valued at $23,341,000 after purchasing an additional 5,666 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Oppenheimer in the fourth quarter valued at approximately $227,000. 32.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Paul M. Friedman sold 3,500 shares of Oppenheimer stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $63.32, for a total value of $221,620.00. Following the transaction, the director owned 20,500 shares of the company's stock, valued at approximately $1,298,060. This trade represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis P. Mcnamara sold 2,000 shares of the business's stock in a transaction that occurred 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 owned 21,766 shares of the company's stock, valued at approximately $1,606,548.46. This trade represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 34.25% of the stock is currently owned by insiders.

Oppenheimer Trading Down 4.0%

NYSE:OPY traded down $2.93 during trading hours on Wednesday, reaching $70.29. The company had a trading volume of 44,896 shares, compared to its average volume of 34,446. The firm has a market cap of $739.45 million, a price-to-earnings ratio of 9.12 and a beta of 1.21. The firm's 50 day moving average price is $70.63 and its 200-day moving average price is $64.35. Oppenheimer Holdings, Inc. has a 52 week low of $47.39 and a 52 week high of $77.83.

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. The company had revenue of $373.18 million for the quarter. Oppenheimer had a net margin of 5.88% and a return on equity of 10.13%.

Oppenheimer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 15th. Oppenheimer's dividend payout ratio (DPR) is presently 9.34%.

Analysts Set New Price Targets

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

Oppenheimer Company 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.