Informed Momentum Co LLC Reduces Holdings in Oppenheimer Holdings, Inc. (NYSE:OPY)

Key Points

• Informed Momentum Co LLC reduced its stake in Oppenheimer Holdings by 42.4% in the first quarter, now owning 9,695 shares valued at approximately $578,000.
• Other institutional investors, including Royce & Associates LP and Invesco Ltd., have increased their stakes significantly, with Invesco growing its position by 864.7%.
• Oppenheimer announced a quarterly dividend of $0.18 per share, with a dividend yield of 1.0%, reflecting a low payout ratio of 9.34%.

Informed Momentum Co LLC cut its stake in shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Free Report) by 42.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,695 shares of the financial services provider's stock after selling 7,148 shares during the period. Informed Momentum Co LLC owned approximately 0.09% of Oppenheimer worth $578,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OPY. Royce & Associates LP grew its holdings in 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 acquiring an additional 43,050 shares in the last quarter. Invesco Ltd. grew its holdings in Oppenheimer by 864.7% during the 1st quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock worth $2,480,000 after acquiring an additional 37,284 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Oppenheimer during the 4th quarter worth approximately $1,717,000. Vanguard Group Inc. grew its holdings in Oppenheimer by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 385,769 shares of the financial services provider's stock worth $24,724,000 after acquiring an additional 20,937 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Oppenheimer by 581.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,866 shares of the financial services provider's stock worth $1,423,000 after acquiring an additional 20,366 shares in the last quarter. 32.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Oppenheimer

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

Oppenheimer Price Performance

Shares of Oppenheimer stock traded down $1.72 during trading hours on Friday, hitting $70.52. The company had a trading volume of 41,692 shares, compared to its average volume of 55,189. The company's 50-day moving average is $68.56 and its two-hundred day moving average is $63.92. Oppenheimer Holdings, Inc. has a twelve month low of $47.39 and a twelve month high of $77.83. The company has a market cap of $741.94 million, a P/E ratio of 9.15 and a beta of 1.24.

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

Oppenheimer Announces Dividend

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

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.