Oppenheimer (NYSE:OPY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oppenheimer (NYSE:OPY) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Oppenheimer Trading Down 2.6%

Shares of NYSE OPY opened at $83.34 on Friday. The stock has a market cap of $876.74 million, a P/E ratio of 6.39 and a beta of 1.18. Oppenheimer has a 12-month low of $49.26 and a 12-month high of $94.10. The business’s fifty day simple moving average is $82.44 and its 200-day simple moving average is $75.13.

Oppenheimer (NYSE:OPY) last released its earnings results on Friday, January 30th. The financial services provider reported $6.51 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 16.10% and a net margin of 9.06%.The firm had revenue of $472.63 million during the quarter.

Oppenheimer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, February 13th. Oppenheimer’s dividend payout ratio is 5.52%.

Insiders Place Their Bets

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $90.67, for a total value of $423,700.91. Following the sale, the insider directly owned 20,177 shares in the company, valued at $1,829,448.59. This trade represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

About Oppenheimer

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.