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

Diamond Hill Investment Group Stock Down 1.1%

NASDAQ DHIL traded down $1.43 on Friday, hitting $134.14. The stock had a trading volume of 7,046 shares, compared to its average volume of 25,556. The company's 50-day moving average is $146.04 and its two-hundred day moving average is $143.46. The stock has a market cap of $366.20 million, a price-to-earnings ratio of 7.62 and a beta of 0.80. Diamond Hill Investment Group has a one year low of $122.32 and a one year high of $173.25.

Diamond Hill Investment Group Announces Dividend

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

Insider Activity at Diamond Hill Investment Group

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

Institutional Investors Weigh In On Diamond Hill Investment Group

Several hedge funds have recently made changes to their positions in DHIL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Diamond Hill Investment Group by 5.2% in 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. Millennium Management LLC lifted its position in shares of Diamond Hill Investment Group by 69.4% in the 1st quarter. Millennium Management LLC now owns 48,739 shares of the asset manager's stock valued at $6,962,000 after acquiring an additional 19,962 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Diamond Hill Investment Group by 21.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,649 shares of the asset manager's stock valued at $3,235,000 after acquiring an additional 3,980 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of 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 valued at $1,583,000 after acquiring an additional 6,987 shares in the last quarter. 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.