Diamond Hill Investment Group (NASDAQ:DHIL) Director Sells $49,630.00 in Stock

Key Points

• Director Paula Meyer of Diamond Hill Investment Group sold 350 shares, worth $49,630, which reduced her position by 8.51%.
• The company's stock price decreased by 0.5%, trading at $140.78, with a market cap of approximately $384.32 million.
• Diamond Hill announced a quarterly dividend of $1.50, reflecting an annualized yield of 4.3%, with a payout ratio of 34.13%.

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) Director Paula R. Meyer sold 350 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $141.80, for a total value of $49,630.00. Following the completion of the transaction, the director directly owned 3,763 shares of the company's stock, valued at $533,593.40. This represents a 8.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Diamond Hill Investment Group Trading Down 2.2%

NASDAQ DHIL traded down $3.18 on Friday, hitting $142.18. 29,236 shares of the stock traded hands, compared to its average volume of 24,465. The stock has a 50-day moving average of $146.76 and a 200 day moving average of $142.42. Diamond Hill Investment Group, Inc. has a twelve month low of $122.32 and a twelve month high of $173.25. The company has a market capitalization of $388.15 million, a P/E ratio of 8.09 and a beta of 0.80.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, August 29th. Diamond Hill Investment Group's dividend payout ratio is presently 34.13%.

Institutional Trading of Diamond Hill Investment Group

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 during the period. BCGM Wealth Management LLC increased its position in shares of Diamond Hill Investment Group by 0.5% during the 2nd quarter. BCGM Wealth Management LLC now owns 19,675 shares of the asset manager's stock valued at $2,859,000 after purchasing an additional 105 shares during the period. Signaturefd LLC increased its position in shares of Diamond Hill Investment Group by 68.5% during the 1st quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock valued at $39,000 after purchasing an additional 111 shares during the period. Rhumbline Advisers increased its position in shares of Diamond Hill Investment Group by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 4,302 shares of the asset manager's stock valued at $625,000 after purchasing an additional 148 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Diamond Hill Investment Group by 1,018.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock valued at $26,000 after purchasing an additional 163 shares during the period. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Diamond Hill Investment Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

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.