JPMorgan Chase & Co. Purchases 24,596 Shares of Oppenheimer Holdings, Inc. $OPY

JPMorgan Chase & Co. lifted its position in Oppenheimer Holdings, Inc. (NYSE:OPY) by 54.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,438 shares of the financial services provider’s stock after purchasing an additional 24,596 shares during the quarter. JPMorgan Chase & Co. owned 0.66% of Oppenheimer worth $5,132,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of OPY. American Century Companies Inc. raised its holdings in shares of Oppenheimer by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock valued at $22,115,000 after buying an additional 44,145 shares in the last quarter. Marshall Wace LLP purchased a new stake in Oppenheimer in the second quarter worth approximately $2,016,000. Algert Global LLC boosted its stake in Oppenheimer by 726.5% in the third quarter. Algert Global LLC now owns 33,779 shares of the financial services provider’s stock worth $2,497,000 after buying an additional 29,692 shares in the last quarter. Norges Bank bought a new position in Oppenheimer during the second quarter valued at approximately $1,585,000. Finally, Millennium Management LLC raised its stake in shares of Oppenheimer by 36.3% during the third quarter. Millennium Management LLC now owns 73,252 shares of the financial services provider’s stock worth $5,414,000 after acquiring an additional 19,513 shares in the last quarter. 32.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the firm’s 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 sale, the insider directly owned 20,177 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. 34.86% of the stock is owned by insiders.

Oppenheimer Stock Up 0.4%

NYSE:OPY opened at $89.53 on Thursday. The company has a fifty day moving average of $85.89 and a 200 day moving average of $76.64. Oppenheimer Holdings, Inc. has a 52 week low of $49.26 and a 52 week 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.

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

Oppenheimer Announces Dividend

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

Wall Street Analysts Forecast Growth

OPY has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Cantor Fitzgerald lowered shares of Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.