Oppenheimer (NYSE:OPY) Hits New 52-Week High Following Dividend Announcement

Oppenheimer Holdings Inc. (NYSE:OPY)’s share price reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $58.72 and last traded at $58.61, with a volume of 41239 shares trading hands. The stock had previously closed at $54.05.

The newly announced dividend which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.18 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.72 annualized dividend and a yield of 1.23%. Oppenheimer’s dividend payout ratio is currently 13.14%.

Oppenheimer Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.28 and a quick ratio of 0.79. The company has a market capitalization of $605.75 million, a P/E ratio of 10.65 and a beta of 1.15. The business has a 50-day moving average of $50.27 and a 200-day moving average of $47.71.

Oppenheimer (NYSE:OPY) last released its earnings results on Friday, October 25th. The financial services provider reported $2.16 EPS for the quarter. Oppenheimer had a return on equity of 8.33% and a net margin of 4.70%. The firm had revenue of $373.35 million for the quarter.

Insider Buying and Selling

In related news, insider Dennis P. Mcnamara sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $51.28, for a total value of $307,680.00. Following the completion of the sale, the insider now owns 20,681 shares in the company, valued at approximately $1,060,521.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 32.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Investing LLC purchased a new position in Oppenheimer in the third quarter worth $414,000. Marshall Wace LLP raised its position in shares of Oppenheimer by 141.1% in the 2nd quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 8,623 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Oppenheimer in the 2nd quarter valued at approximately $367,000. Beverly Hills Private Wealth LLC boosted its stake in Oppenheimer by 55.6% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 19,850 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 7,094 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Oppenheimer by 35.3% during the 2nd quarter. American Century Companies Inc. now owns 124,449 shares of the financial services provider’s stock worth $5,962,000 after purchasing an additional 32,444 shares during the last quarter. 32.26% of the stock is currently owned by institutional investors.

Oppenheimer Company Profile

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.