Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Insider Jo Ann Quinif Buys 2,750 Shares

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) insider Jo Ann Quinif bought 2,750 shares of the stock in a transaction on Friday, June 13th. The shares were acquired at an average cost of $144.01 per share, for a total transaction of $396,027.50. Following the purchase, the insider now owns 25,763 shares in the company, valued at approximately $3,710,129.63. This represents a 11.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Diamond Hill Investment Group Stock Down 2.1%

Shares of Diamond Hill Investment Group stock traded down $2.95 on Tuesday, hitting $138.20. 47,168 shares of the company traded hands, compared to its average volume of 18,990. Diamond Hill Investment Group, Inc. has a 12-month low of $122.32 and a 12-month high of $173.25. The company has a market cap of $377.01 million, a PE ratio of 7.83 and a beta of 0.80. The company has a 50-day moving average price of $136.73 and a 200 day moving average price of $145.01.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The asset manager reported $3.23 earnings per share for the quarter. Diamond Hill Investment Group had a return on equity of 20.00% and a net margin of 33.88%. The company had revenue of $37.12 million for the quarter.

Diamond Hill Investment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Monday, June 2nd. Diamond Hill Investment Group's dividend payout ratio is presently 40.60%.

Hedge Funds Weigh In On Diamond Hill Investment Group

Several hedge funds have recently bought and sold shares of DHIL. Proficio Capital Partners LLC bought a new stake in shares of Diamond Hill Investment Group during the 4th quarter worth about $3,729,000. Concurrent Investment Advisors LLC bought a new position in shares of Diamond Hill Investment Group in the first quarter valued at approximately $3,387,000. Millennium Management LLC lifted its stake in shares of Diamond Hill Investment Group by 69.4% in the first quarter. Millennium Management LLC now owns 48,739 shares of the asset manager's stock worth $6,962,000 after buying an additional 19,962 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of Diamond Hill Investment Group by 765.3% during the 4th quarter. Citadel Advisors LLC now owns 11,881 shares of the asset manager's stock worth $1,843,000 after buying an additional 10,508 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Diamond Hill Investment Group by 23.5% during the 1st quarter. American Century Companies Inc. now owns 51,297 shares of the asset manager's stock worth $7,327,000 after buying an additional 9,770 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Diamond Hill Investment Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th.

About Diamond Hill Investment Group

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 offers investment advisory and related services to clients through pooled vehicles, such as private fund; separately managed accounts; collective investment trusts; and other pooled vehicles, including sub-advised funds and model delivery programs.

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