Diamond Hill Investment Group (NASDAQ:DHIL) Releases Quarterly Earnings Results

Key Points

• Diamond Hill Investment Group reported quarterly earnings of $2.86 per share, with a return on equity of 21.99% and a net margin of 26.68%.
• The company's stock, trading under the symbol DHIL, reached $150.10 during midday trading and has a market capitalization of $409.77 million.
• Insider trading activity showed increases in share holdings, with a director purchasing 278 shares and other insiders acquiring 4,152 shares in the last three months, raising their total ownership to 4.60% of the company.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) announced its earnings results on Tuesday. The asset manager reported $2.86 earnings per share for the quarter, Zacks reports. Diamond Hill Investment Group had a return on equity of 21.38% and a net margin of 31.71%. The firm had revenue of $36.03 million for the quarter.

Diamond Hill Investment Group Stock Performance

Shares of DHIL stock traded down $2.17 during mid-day trading on Friday, hitting $133.40. 28,750 shares of the stock traded hands, compared to its average volume of 32,464. Diamond Hill Investment Group has a twelve month low of $122.32 and a twelve month high of $173.25. The company's 50-day simple moving average is $145.95 and its 200-day simple moving average is $143.36. The firm has a market cap of $364.18 million, a price-to-earnings ratio of 7.59 and a beta of 0.81.

Diamond Hill Investment Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 29th. This represents a $6.00 annualized dividend and a dividend yield of 4.5%. Diamond Hill Investment Group's dividend payout ratio (DPR) is 34.13%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Diamond Hill Investment Group from a "hold" rating to a "buy" rating in a research report on Saturday.

Insider Buying and Selling at Diamond Hill Investment Group

In other news, Director Richard Scott Cooley bought 278 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $134.10 per share, with a total value of $37,279.80. Following the completion of the purchase, the director directly owned 13,829 shares of the company's stock, valued at $1,854,468.90. This represents a 2.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jo Ann Quinif purchased 2,750 shares of the company's stock in a transaction on Friday, June 13th. The stock was acquired at an average price of $144.01 per share, for a total transaction of $396,027.50. Following the completion of the transaction, the insider owned 25,763 shares of the company's stock, valued at $3,710,129.63. This represents a 11.95% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.60% of the company's stock.

Institutional Trading of Diamond Hill Investment Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DHIL. Millennium Management LLC lifted its holdings 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 valued at $6,962,000 after purchasing an additional 19,962 shares in the last quarter. Jane Street Group LLC lifted its stake in Diamond Hill Investment Group by 170.7% in the 1st quarter. Jane Street Group LLC now owns 11,079 shares of the asset manager's stock worth $1,583,000 after acquiring an additional 6,987 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Diamond Hill Investment Group by 21.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,649 shares of the asset manager's stock worth $3,235,000 after acquiring an additional 3,980 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Diamond Hill Investment Group by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,581 shares of the asset manager's stock valued at $226,000 after acquiring an additional 78 shares in the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

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 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.