Oppenheimer (NYSE:OPY) Stock Rating Lowered by Wall Street Zen

Key Points

• Oppenheimer (NYSE:OPY) has been downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen, indicating a shift in market sentiment regarding the company's stock.
• Shares of Oppenheimer have fallen 3.3%, opening at $73.31, with a notable 52-week low of $47.39 and high of $77.83.
• Insider transaction activity includes Director Paul M. Friedman selling 3,500 shares, reducing his stake by 14.58%, while institutional investors hold approximately 32.26% of the stock.

Wall Street Zen lowered shares of Oppenheimer (NYSE:OPY - Free Report) from a buy rating to a hold rating in a research note published on Saturday.

Oppenheimer Stock Up 1.8%

Shares of NYSE OPY traded up $1.33 during trading on Friday, reaching $74.61. 53,673 shares of the company traded hands, compared to its average volume of 43,166. The firm has a 50 day simple moving average of $66.89 and a 200-day simple moving average of $63.77. Oppenheimer has a 52-week low of $47.39 and a 52-week high of $77.83. The stock has a market capitalization of $785.22 million, a PE ratio of 9.68 and a beta of 1.24.

Oppenheimer (NYSE:OPY - Get Free Report) last posted its earnings results on Friday, August 1st. The financial services provider reported $1.91 EPS for the quarter. The business had revenue of $373.18 million during the quarter. Oppenheimer had a net margin of 5.88% and a return on equity of 10.26%.

Oppenheimer Announces Dividend

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

Insider Transactions at Oppenheimer

In other Oppenheimer news, Director Paul M. Friedman sold 3,500 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $63.32, for a total transaction of $221,620.00. Following the completion of the sale, the director directly owned 20,500 shares in the company, valued at $1,298,060. The trade was a 14.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 34.25% of the company's stock.

Institutional Trading of Oppenheimer

Large investors have recently added to or reduced their stakes in the business. Boston Partners raised its position in Oppenheimer by 457.7% in the first 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. Royce & Associates LP raised its holdings in Oppenheimer by 114.8% in 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 during the period. Invesco Ltd. lifted its position in Oppenheimer by 864.7% during the first quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock valued at $2,480,000 after purchasing an additional 37,284 shares in the last quarter. American Century Companies Inc. lifted its position in Oppenheimer by 17.2% during the first quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock valued at $13,559,000 after purchasing an additional 33,433 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Oppenheimer during the fourth quarter valued at about $1,717,000. 32.26% of the stock is currently owned by institutional investors.

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.