Shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $143.53 and traded as low as $142.30. Diamond Hill Investment Group shares last traded at $145.31, with a volume of 114,797 shares.
Diamond Hill Investment Group Price Performance
The company has a 50-day simple moving average of $140.15 and a 200-day simple moving average of $143.53. The stock has a market cap of $423.44 million, a PE ratio of 10.49 and a beta of 0.80.
Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The asset manager reported $3.23 earnings per share (EPS) for the quarter. The business had revenue of $37.12 million during 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 business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.87%. Diamond Hill Investment Group's payout ratio is 40.60%.
Insider Activity at Diamond Hill Investment Group
In other news, insider Jo Ann Quinif bought 2,750 shares of the stock in a transaction on Friday, June 13th. The shares were bought at an average price of $144.01 per share, with a total value 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 trade represents a 11.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Scott Cooley purchased 278 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $134.10 per share, with a total value of $37,279.80. Following the transaction, the director owned 13,829 shares of the company's stock, valued at approximately $1,854,468.90. This represents a 2.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 4,152 shares of company stock worth $573,803 in the last three months. Corporate insiders own 4.60% of the company's stock.
Institutional Investors Weigh In On Diamond Hill Investment Group
Institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new position in Diamond Hill Investment Group during the 4th quarter valued at about $3,729,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Diamond Hill Investment Group in the first quarter valued at approximately $3,387,000. Millennium Management LLC increased its stake 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 worth $6,962,000 after purchasing an additional 19,962 shares in the last quarter. Citadel Advisors LLC raised its position 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 purchasing an additional 10,508 shares during the last quarter. Finally, American Century Companies Inc. raised its position 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 purchasing an additional 9,770 shares during the last quarter. 65.50% of the stock is currently owned by hedge funds and other institutional investors.
About Diamond Hill Investment Group
(
Get Free Report)
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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