Oppenheimer (NYSE:OPY) Hits New 1-Year High - Here's Why

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $73.20 and last traded at $72.98, with a volume of 54246 shares traded. The stock had previously closed at $71.49.

Oppenheimer Stock Performance

The firm has a fifty day moving average price of $65.83 and a 200 day moving average price of $63.42. The company has a market cap of $768.88 million, a price-to-earnings ratio of 10.88 and a beta of 1.20.

Oppenheimer (NYSE:OPY - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 9.03% and a net margin of 5.26%. The company had revenue of $367.83 million during the quarter.

Oppenheimer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.72 annualized dividend and a yield of 0.99%. Oppenheimer's dividend payout ratio (DPR) is presently 10.71%.

Insider Buying and Selling at Oppenheimer

In related news, Director Paul M. Friedman sold 3,500 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $63.32, for a total transaction of $221,620.00. Following the transaction, the director directly owned 20,500 shares of the company's stock, valued at approximately $1,298,060. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 34.25% of the company's stock.

Institutional Trading of Oppenheimer

A number of institutional investors have recently modified their holdings of OPY. Vanguard Group Inc. lifted 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 worth $23,341,000 after purchasing an additional 5,666 shares during the period. American Century Companies Inc. increased 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 purchasing an additional 33,433 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Oppenheimer by 3.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 90,566 shares of the financial services provider's stock worth $5,804,000 after buying an additional 3,119 shares during the period. Royce & Associates LP grew its position in shares of Oppenheimer by 114.8% in the 1st quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock valued at $4,803,000 after buying an additional 43,050 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Oppenheimer by 2.5% in the 1st quarter. Bridgeway Capital Management LLC now owns 75,840 shares of the financial services provider's stock valued at $4,522,000 after purchasing an additional 1,836 shares during the last quarter. 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.