VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Oppenheimer Holdings, Inc. $OPY

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Oppenheimer Holdings, Inc. (NYSE:OPY) in the third quarter, HoldingsChannel.com reports. The firm acquired 6,400 shares of the financial services provider’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in Oppenheimer during the first quarter valued at approximately $1,590,000. Empowered Funds LLC raised its holdings in Oppenheimer by 48.6% in the 1st quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider’s stock worth $4,109,000 after purchasing an additional 15,073 shares during the period. Engineers Gate Manager LP grew its holdings in Oppenheimer by 208.5% during the second quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 6,776 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Oppenheimer by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider’s stock worth $44,329,000 after buying an additional 7,384 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Oppenheimer by 57.9% during the 1st quarter. Sei Investments Co. now owns 12,532 shares of the financial services provider’s stock valued at $1,118,000 after acquiring an additional 4,593 shares during the period. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on OPY. Weiss Ratings upgraded shares of Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Needham & Company LLC upgraded Oppenheimer to an “outperform” rating in a research report on Tuesday. Finally, Wall Street Zen downgraded Oppenheimer from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Oppenheimer Price Performance

NYSE OPY opened at $88.03 on Friday. Oppenheimer Holdings, Inc. has a 1-year low of $63.81 and a 1-year high of $125.88. The business has a 50 day simple moving average of $111.64 and a two-hundred day simple moving average of $102.51. The stock has a market capitalization of $942.68 million, a PE ratio of 11.85 and a beta of 1.12.

Oppenheimer (NYSE:OPY) last posted its earnings results on Friday, October 30th. The financial services provider reported $1.81 earnings per share for the quarter. Oppenheimer had a net margin of 4.94% and a return on equity of 19.02%. The firm had revenue of $382.00 million during the quarter.

Oppenheimer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Oppenheimer’s dividend payout ratio is 10.77%.

About Oppenheimer

Oppenheimer Holdings Inc is a diversified financial services company that operates primarily through its subsidiaries, including Oppenheimer & Co Inc and Oppenheimer Asset Management Inc The company provides investment banking, securities brokerage, wealth management and asset management services to individual investors, businesses, institutional clients and government entities.

Its investment banking activities include public and private securities offerings, mergers and acquisitions advisory services, financial restructuring and municipal finance.