State Board of Administration of Florida Retirement System Purchases New Stake in Oppenheimer Holdings Inc. (OPY)
State Board of Administration of Florida Retirement System purchased a new position in shares of Oppenheimer Holdings Inc. (NYSE:OPY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,318 shares of the financial services provider’s stock, valued at approximately $205,000. State Board of Administration of Florida Retirement System owned 0.06% of Oppenheimer as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Oppenheimer by 114.6% during the 1st quarter. Barclays PLC now owns 4,865 shares of the financial services provider’s stock valued at $125,000 after buying an additional 2,598 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Oppenheimer during the 1st quarter valued at about $143,000. Meeder Asset Management Inc. raised its stake in shares of Oppenheimer by 500.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,477 shares of the financial services provider’s stock valued at $153,000 after buying an additional 4,565 shares during the last quarter. Assetmark Inc. raised its stake in shares of Oppenheimer by 64.7% during the 2nd quarter. Assetmark Inc. now owns 5,553 shares of the financial services provider’s stock valued at $155,000 after buying an additional 2,182 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Oppenheimer during the 1st quarter valued at about $156,000. Institutional investors and hedge funds own 46.32% of the company’s stock.
A number of research firms have weighed in on OPY. ValuEngine lowered Oppenheimer from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet upgraded Oppenheimer from a “c” rating to a “b-” rating in a research note on Wednesday, May 16th.
Oppenheimer (NYSE:OPY) last released its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.16. The business had revenue of $242.56 million during the quarter. Oppenheimer had a return on equity of 6.68% and a net margin of 4.60%.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.42%.
Oppenheimer Holdings Inc, through its subsidiaries, provides middle-market investment bank and full service broker-dealer products and services. The company offers full-service brokerage services covering exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, and unit investment trusts; financial and wealth planning services; and margin lending services.
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