Diamond Hill Investment Group, Inc. (NASDAQ:DHIL – Get Free Report) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 26,400 shares, a decline of 9.6% from the July 31st total of 29,200 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 11,100 shares, the short-interest ratio is presently 2.4 days.
Insider Activity
In other news, Director Paula R. Meyer sold 500 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $171.31, for a total transaction of $85,655.00. Following the completion of the sale, the director now directly owns 2,764 shares of the company’s stock, valued at approximately $473,500.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On Diamond Hill Investment Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHIL. Bank of New York Mellon Corp boosted its position in Diamond Hill Investment Group by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 19,652 shares of the asset manager’s stock valued at $3,681,000 after buying an additional 248 shares during the last quarter. American Century Companies Inc. boosted its position in Diamond Hill Investment Group by 26.0% in the 1st quarter. American Century Companies Inc. now owns 12,949 shares of the asset manager’s stock valued at $2,425,000 after buying an additional 2,675 shares during the last quarter. MetLife Investment Management LLC boosted its position in Diamond Hill Investment Group by 49.7% in the 1st quarter. MetLife Investment Management LLC now owns 1,582 shares of the asset manager’s stock valued at $296,000 after buying an additional 525 shares during the last quarter. Sei Investments Co. boosted its position in Diamond Hill Investment Group by 30.7% in the 1st quarter. Sei Investments Co. now owns 2,907 shares of the asset manager’s stock valued at $540,000 after buying an additional 682 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Diamond Hill Investment Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 157,234 shares of the asset manager’s stock valued at $29,450,000 after buying an additional 2,284 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.
Diamond Hill Investment Group Stock Performance
Diamond Hill Investment Group stock traded up $2.08 during trading on Friday, reaching $170.84. 14,911 shares of the company’s stock were exchanged, compared to its average volume of 12,005. The company’s 50-day moving average is $175.21 and its two-hundred day moving average is $170.54. Diamond Hill Investment Group has a 52-week low of $154.24 and a 52-week high of $196.00. The firm has a market cap of $502.27 million, a price-to-earnings ratio of 10.54 and a beta of 0.96.
Diamond Hill Investment Group (NASDAQ:DHIL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $2.35 earnings per share for the quarter. The firm had revenue of $33.35 million during the quarter. Diamond Hill Investment Group had a net margin of 34.88% and a return on equity of 21.32%.
Diamond Hill Investment Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $6.00 dividend on an annualized basis and a yield of 3.51%. Diamond Hill Investment Group’s payout ratio is currently 37.01%.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Diamond Hill Investment Group in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company.
Read Our Latest Stock Report on Diamond Hill Investment Group
Diamond Hill Investment Group Company Profile
Diamond Hill Investment Group, Inc, through its subsidiary, Diamond Hill Capital Management, Inc, provides investment advisory and fund administration services in the United States. It sponsors, distributes, and offers investment advisory and related services to its clients through pooled investment vehicles, including the Diamond Hill Funds, separately managed accounts, and model delivery programs.
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Diamond Hill Investment Group, Inc. (NASDAQ:DHIL – Get Rating) Director Richard Scott Cooley bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were acquired at an average cost of $158.00 per share, for a total transaction of $79,000.00. Following the completion of the acquisition, the director now directly owns 6,437 shares in the company, valued at approximately $1,017,046. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Diamond Hill Investment Group Price Performance
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DHIL traded up $0.04 during trading on Friday, hitting $165.04. The stock had a trading volume of 5,734 shares, compared to its average volume of 12,926. The company has a 50 day moving average price of $181.46 and a 200-day moving average price of $178.03. The firm has a market cap of $503.37 million, a price-to-earnings ratio of 12.60 and a beta of 0.95. Diamond Hill Investment Group, Inc. has a one year low of $154.24 and a one year high of $197.00.
Diamond Hill Investment Group Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Monday, March 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $6.00 annualized dividend and a yield of 3.64%. Diamond Hill Investment Group’s dividend payout ratio (DPR) is presently 45.80%.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on Diamond Hill Investment Group in a research note on Thursday. They issued a “buy” rating for the company.
Institutional Trading of Diamond Hill Investment Group
Several institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in Diamond Hill Investment Group by 6.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,613 shares of the asset manager’s stock valued at $298,000 after purchasing an additional 100 shares during the period. Millennium Management LLC lifted its position in shares of Diamond Hill Investment Group by 139.7% during the 4th quarter. Millennium Management LLC now owns 3,905 shares of the asset manager’s stock valued at $723,000 after acquiring an additional 2,276 shares during the period. Evergreen Wealth Management LLC bought a new stake in shares of Diamond Hill Investment Group during the 4th quarter valued at $2,088,000. Alps Advisors Inc. lifted its position in shares of Diamond Hill Investment Group by 11.4% during the 4th quarter. Alps Advisors Inc. now owns 4,846 shares of the asset manager’s stock valued at $897,000 after acquiring an additional 496 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Diamond Hill Investment Group by 4.0% during the 4th quarter. AQR Capital Management LLC now owns 25,930 shares of the asset manager’s stock valued at $4,798,000 after acquiring an additional 989 shares during the period. 62.83% of the stock is currently owned by institutional investors.
About Diamond Hill Investment Group
Diamond Hill Investment Group, Inc operates as an independent investment management company. The firm engages in the provision of investment management and administration services. It offers equities, fixed income, mutual funds and corporate credits. The company was founded in April 1990 and is headquartered in Columbus, OH.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Diamond Hill Investment Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Diamond Hill Investment Group wasn’t on the list.
While Diamond Hill Investment Group currently has a “hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
