Lazard Asset Management LLC Purchases Shares of 17,826 Oppenheimer Holdings, Inc. $OPY

Lazard Asset Management LLC purchased a new position in Oppenheimer Holdings, Inc. (NYSE:OPY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,826 shares of the financial services provider’s stock, valued at approximately $1,590,000.

A number of other large investors have also modified their holdings of OPY. Arax Advisory Partners raised its position in shares of Oppenheimer by 47,700.0% in the 4th quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 477 shares during the last quarter. Torren Management LLC acquired a new stake in Oppenheimer in the 4th quarter worth approximately $38,000. Barclays PLC purchased a new stake in Oppenheimer during the 4th quarter worth approximately $40,000. Clearstead Advisors LLC grew its position in Oppenheimer by 193.9% during the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 415 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Oppenheimer during the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Oppenheimer from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Oppenheimer presently has an average rating of “Buy”.

Oppenheimer Price Performance

NYSE OPY opened at $112.71 on Tuesday. The company has a market capitalization of $1.21 billion, a PE ratio of 12.72 and a beta of 1.09. The company has a fifty day moving average of $106.55 and a 200 day moving average of $96.97. Oppenheimer Holdings, Inc. has a 1 year low of $63.81 and a 1 year high of $123.24.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings results on Friday, July 31st. The financial services provider reported $3.98 earnings per share for the quarter. The company had revenue of $454.88 million for the quarter. Oppenheimer had a return on equity of 19.70% and a net margin of 5.72%.

Oppenheimer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. Oppenheimer’s dividend payout ratio is presently 9.03%.

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.