Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Insider Purchases $396,027.50 in Stock

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

Diamond Hill Investment Group Trading Down 0.7%

DHIL stock traded down $0.96 during trading on Friday, reaching $137.38. The stock had a trading volume of 57,633 shares, compared to its average volume of 19,265. The firm has a market cap of $375.05 million, a PE ratio of 9.29 and a beta of 0.80. The stock's 50 day moving average is $136.99 and its two-hundred day moving average is $144.71. Diamond Hill Investment Group, Inc. has a 52 week low of $122.32 and a 52 week high of $173.25.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The asset manager reported $3.23 earnings per share for the quarter. The firm had revenue of $37.12 million for the quarter. Diamond Hill Investment Group had a net margin of 26.68% and a return on equity of 21.99%.

Diamond Hill Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.00 annualized dividend and a yield of 4.37%. Diamond Hill Investment Group's payout ratio is presently 40.60%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

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

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.