NorthCrest Asset Manangement LLC Has $539,000 Holdings in Oppenheimer Holdings, Inc. $OPY

Key Points

• NorthCrest Asset Management LLC reduced its holdings in Oppenheimer Holdings by 33.5% during the second quarter, now owning 7,950 shares valued at approximately $539,000.
• Shares of Oppenheimer are currently trading at $78.53, down 1.7%, with a market cap of $826.14 million and a 52-week high of $79.99.
• Insider Dennis P. McNamara sold 2,000 shares at an average price of $73.81, decreasing his ownership stake by 8.42% to 21,766 shares.

NorthCrest Asset Manangement LLC lessened its position in Oppenheimer Holdings, Inc. (NYSE:OPY - Free Report) by 33.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,950 shares of the financial services provider's stock after selling 4,000 shares during the quarter. NorthCrest Asset Manangement LLC owned about 0.08% of Oppenheimer worth $539,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Oppenheimer by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 391,435 shares of the financial services provider's stock worth $23,341,000 after acquiring an additional 5,666 shares during the period. American Century Companies Inc. raised its holdings in Oppenheimer by 17.2% in the 1st quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock worth $13,559,000 after acquiring an additional 33,433 shares during the period. Invesco Ltd. raised its holdings in Oppenheimer by 864.7% in 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in Oppenheimer by 581.9% in 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 during the period. Finally, Boston Partners raised its holdings in Oppenheimer by 457.7% in the 1st quarter. Boston Partners now owns 71,568 shares of the financial services provider's stock worth $4,268,000 after acquiring an additional 58,735 shares during the period. Institutional investors own 32.26% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Oppenheimer Trading Down 0.8%

NYSE OPY traded down $0.60 on Tuesday, reaching $77.32. The company's stock had a trading volume of 17,464 shares, compared to its average volume of 44,569. The firm has a market cap of $813.35 million, a PE ratio of 10.03 and a beta of 1.21. The business has a 50-day moving average price of $73.09 and a 200 day moving average price of $65.42. Oppenheimer Holdings, Inc. has a 52 week low of $47.39 and a 52 week high of $79.99.

Oppenheimer (NYSE:OPY - Get Free Report) last posted its earnings results on Friday, August 1st. The financial services provider reported $1.91 earnings per share for the quarter. The business 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Oppenheimer's payout ratio is presently 9.34%.

About Oppenheimer

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.