Oppenheimer (NYSE:OPY) Sets New 12-Month High - Here's What Happened

Key Points

• Oppenheimer hit a new 52-week high intraday, trading as high as $117.19 and last at $114.24 on a volume of 79,748 shares.
• Analyst sentiment is positive: two analysts currently rate OPY a Buy and Wall Street Zen upgraded it to a "strong-buy," leaving a MarketBeat consensus of "Buy".
• Strong recent results and a dividend: Oppenheimer reported Q4 EPS of $6.51 on $472.6M revenue, has a PE of 8.68 and market cap around $1.21B, and pays a $0.18 quarterly dividend (≈0.6% yield).

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $117.19 and last traded at $114.2420, with a volume of 79748 shares traded. The stock had previously closed at $114.00.

Analyst Ratings Changes

A number of research firms have weighed in on OPY. Cantor Fitzgerald downgraded Oppenheimer to a "buy" rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oppenheimer in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Oppenheimer from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

Oppenheimer Stock Performance

The stock's 50 day moving average price is $90.81 and its 200-day moving average price is $78.87. The company has a market cap of $1.21 billion, a PE ratio of 8.68 and a beta of 1.14.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, January 30th. The financial services provider reported $6.51 EPS for the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%. The company had revenue of $472.63 million for the quarter.

Oppenheimer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Oppenheimer's payout ratio is 5.52%.

Insiders Place Their Bets

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $90.67, for a total transaction of $423,700.91. Following the completion of the sale, the insider directly owned 20,177 shares in the company, valued at $1,829,448.59. This represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 34.86% of the stock is owned by corporate insiders.

Institutional Trading of Oppenheimer

A number of institutional investors have recently made changes to their positions in OPY. State of Tennessee Department of Treasury purchased a new position in shares of Oppenheimer in the fourth quarter worth $147,000. Empowered Funds LLC boosted its position in Oppenheimer by 60.9% during the 4th quarter. Empowered Funds LLC now owns 30,993 shares of the financial services provider's stock valued at $2,240,000 after buying an additional 11,735 shares during the period. XTX Topco Ltd bought a new stake in Oppenheimer in the 4th quarter worth $447,000. Millennium Management LLC grew its holdings in Oppenheimer by 56.6% in the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock worth $8,294,000 after acquiring an additional 41,485 shares during the last quarter. Finally, Man Group plc increased its position in shares of Oppenheimer by 31.5% in the fourth quarter. Man Group plc now owns 19,183 shares of the financial services provider's stock valued at $1,387,000 after acquiring an additional 4,594 shares during the period. Hedge funds and other institutional investors own 32.26% of the company's stock.

Oppenheimer Company 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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