Empowered Funds LLC Grows Stock Holdings in Oppenheimer Holdings, Inc. $OPY

Key Points

• Empowered Funds LLC increased its Oppenheimer stake by 48.6% in the first quarter, holding 46,066 shares worth approximately $4.1 million, or 0.43% of the company.
• Several other institutional investors also expanded their positions, including Millennium Management, which raised its holdings by 56.6%. Institutions and hedge funds collectively own 32.26% of Oppenheimer shares.
• Oppenheimer reported quarterly earnings of $3.98 per share on $454.88 million in revenue and declared a quarterly dividend of $0.20. Analysts currently give the stock an average “Buy” rating.

Empowered Funds LLC boosted its stake in shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Free Report) by 48.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,066 shares of the financial services provider's stock after buying an additional 15,073 shares during the period. Empowered Funds LLC owned 0.43% of Oppenheimer worth $4,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Oppenheimer by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider's stock worth $44,329,000 after purchasing an additional 7,384 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Oppenheimer by 2.5% in the 3rd 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 during the last quarter. Millennium Management LLC grew its holdings in shares of Oppenheimer by 56.6% during the fourth quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock worth $8,294,000 after purchasing an additional 41,485 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Oppenheimer by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,906 shares of the financial services provider's stock worth $8,017,000 after buying an additional 19,558 shares during the last quarter. Finally, Boston Partners grew its position in shares of Oppenheimer by 9.2% during the fourth quarter. Boston Partners now owns 86,196 shares of the financial services provider's stock worth $6,231,000 after acquiring an additional 7,255 shares during the last quarter. 32.26% of the stock is currently owned by institutional investors and hedge funds.

Oppenheimer Price Performance

Shares of NYSE:OPY opened at $106.52 on Monday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 12.02 and a beta of 1.09. Oppenheimer Holdings, Inc. has a 12 month low of $63.81 and a 12 month high of $123.24. The business's 50 day simple moving average is $106.17 and its 200-day simple moving average is $96.70.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The financial services provider reported $3.98 earnings per share for the quarter. The business had revenue of $454.88 million during the quarter. Oppenheimer had a return on equity of 19.70% and a net margin of 5.72%.

Oppenheimer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.20 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Oppenheimer's dividend payout ratio is currently 9.54%.

Analysts Set New Price Targets

A number of research analysts have commented on OPY shares. Wall Street Zen upgraded shares of Oppenheimer from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings raised Oppenheimer from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Oppenheimer presently has an average rating of "Buy".

Oppenheimer 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.

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