JPMorgan Chase & Co. Boosts Position in Oppenheimer Holdings, Inc. $OPY

JPMorgan Chase & Co. lifted its holdings in shares of Oppenheimer Holdings, Inc. (NYSE:OPY) by 54.9% in the third quarter, Holdings Channel.com reports. The fund owned 69,438 shares of the financial services provider’s stock after purchasing an additional 24,596 shares during the period. JPMorgan Chase & Co.’s holdings in Oppenheimer were worth $5,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OPY. State of Alaska Department of Revenue bought a new stake in Oppenheimer in the third quarter valued at $31,000. Tower Research Capital LLC TRC purchased a new position in Oppenheimer during the 2nd quarter valued at $49,000. Quantbot Technologies LP bought a new position in Oppenheimer in the 2nd quarter worth $112,000. SG Americas Securities LLC purchased a new stake in shares of Oppenheimer in the 3rd quarter worth about $185,000. Finally, Caxton Associates LLP purchased a new stake in shares of Oppenheimer in the 1st quarter worth about $206,000. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Trading Up 0.4%

Shares of Oppenheimer stock opened at $89.53 on Thursday. Oppenheimer Holdings, Inc. has a 12 month low of $49.26 and a 12 month high of $94.10. The firm has a market capitalization of $958.87 million, a P/E ratio of 6.87 and a beta of 1.14. The business has a fifty day simple moving average of $85.89 and a two-hundred day simple moving average of $76.64.

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

Oppenheimer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 13th. Oppenheimer’s dividend payout ratio is 5.52%.

Analyst Ratings Changes

Several brokerages recently issued reports on OPY. Cantor Fitzgerald cut shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Finally, Wall Street Zen raised Oppenheimer from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Oppenheimer has an average rating of “Buy”.

Insiders Place Their Bets

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total transaction of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. This trade represents a 18.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 34.86% 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.