Oppenheimer (NYSE:OPY) Sets New 52-Week High After Dividend Announcement

Shares of Oppenheimer Holdings Inc. (NYSE:OPY - Get Free Report) hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as $58.72 and last traded at $58.61, with a volume of 41239 shares. 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 issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, November 8th. Oppenheimer's dividend payout ratio (DPR) is presently 13.14%.

Oppenheimer Stock Up 6.8 %

The stock has a market cap of $596.45 million, a PE ratio of 10.54 and a beta of 1.15. The firm has a fifty day moving average of $50.40 and a 200 day moving average of $47.85. The company has a quick ratio of 0.79, a current ratio of 1.28 and a debt-to-equity ratio of 0.14.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter. The company had revenue of $373.35 million for the quarter. Oppenheimer had a return on equity of 8.33% and a net margin of 4.70%.

Insider Buying and Selling

In related news, insider Dennis P. Mcnamara sold 6,000 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were 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 $1,060,521.68. This trade represents 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 available at this link. Corporate insiders own 32.49% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Oppenheimer by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 284,885 shares of the financial services provider's stock valued at $11,373,000 after buying an additional 12,525 shares during the period. GSA Capital Partners LLP acquired a new position in Oppenheimer in the 1st quarter worth $1,293,000. Victory Capital Management Inc. acquired a new stake in shares of Oppenheimer in the 2nd quarter valued at about $1,197,000. TCW Group Inc. acquired a new stake in shares of Oppenheimer in the 2nd quarter valued at about $2,396,000. Finally, Acadian Asset Management LLC raised its stake in shares of Oppenheimer by 74.8% in the 2nd quarter. Acadian Asset Management LLC now owns 24,387 shares of the financial services provider's stock valued at $1,167,000 after purchasing an additional 10,433 shares in the last quarter. 32.26% of the stock is currently owned by institutional investors and hedge funds.

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.