Oppenheimer (NYSE:OPY) Stock Price Down 10.6% – Should You Sell?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price traded down 10.6% during trading on Monday . The stock traded as low as $97.77 and last traded at $95.5070. 21,183 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 58,327 shares. The stock had previously closed at $106.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen raised Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings raised Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Oppenheimer Stock Down 3.4%

The business has a fifty day simple moving average of $95.51 and a two-hundred day simple moving average of $81.95. The company has a market cap of $1.03 billion, a P/E ratio of 11.44 and a beta of 1.19.

Oppenheimer (NYSE:OPY) last posted its earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share for the quarter. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.The company had revenue of $445.10 million for the quarter.

Oppenheimer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.20 dividend. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 15th. Oppenheimer’s dividend payout ratio is currently 8.58%.

Insiders Place Their Bets

In other Oppenheimer 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 value of $423,700.91. Following the transaction, the insider owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. This represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 34.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OPY. Goldman Sachs Group Inc. lifted its holdings in Oppenheimer by 39.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 2,296 shares during the period. Caxton Associates LLP purchased a new stake in Oppenheimer in the first quarter worth about $206,000. Empowered Funds LLC increased its position in Oppenheimer by 5.3% in the first quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock worth $2,167,000 after buying an additional 1,836 shares in the last quarter. Geode Capital Management LLC increased its position in Oppenheimer by 0.3% in the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after buying an additional 214 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Oppenheimer by 146.4% in the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock worth $2,949,000 after buying an additional 26,643 shares in the last quarter. 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.