Diamond Hill Investment Group (NASDAQ:DHIL) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Diamond Hill Investment Group's stock price dropped below its 200-day moving average of $141.64, trading as low as $135.95 with a volume of 29,556 shares.
• Despite this decline, analysts maintain a consensus "Hold" rating, with Wall Street Zen upgrading the stock from "hold" to "buy" on August 2nd.
• The company announced a quarterly dividend of $1.50, translating to an annualized yield of 4.4%, with a payout ratio of 34.13%.

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $141.64 and traded as low as $135.95. Diamond Hill Investment Group shares last traded at $135.95, with a volume of 29,556 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DHIL. Wall Street Zen raised Diamond Hill Investment Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Diamond Hill Investment Group in a research note on Wednesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Diamond Hill Investment Group Stock Down 3.0%

The company has a 50 day moving average of $142.62 and a two-hundred day moving average of $141.64. The firm has a market cap of $371.14 million, a P/E ratio of 7.73 and a beta of 0.81.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The asset manager reported $2.86 earnings per share for the quarter. Diamond Hill Investment Group had a return on equity of 21.38% and a net margin of 31.71%.The business had revenue of $36.03 million during the quarter.

Diamond Hill Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $6.00 dividend on an annualized basis and a yield of 4.4%. Diamond Hill Investment Group's dividend payout ratio (DPR) is currently 34.13%.

Insider Transactions at Diamond Hill Investment Group

In related news, Director L'quentus Thomas sold 250 shares of Diamond Hill Investment Group stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $141.10, for a total value of $35,275.00. Following the transaction, the director owned 2,534 shares of the company's stock, valued at approximately $357,547.40. This trade represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paula R. Meyer sold 350 shares of Diamond Hill Investment Group stock in a transaction dated Friday, September 5th. The stock was 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 in the company, valued at $533,593.40. This represents a 8.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Diamond Hill Investment Group

A number of institutional investors have recently bought and sold shares of DHIL. Vanguard Group Inc. lifted its stake in Diamond Hill Investment Group by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 171,378 shares of the asset manager's stock worth $24,480,000 after acquiring an additional 5,832 shares in the last quarter. Royce & Associates LP lifted its stake in Diamond Hill Investment Group by 1.5% in the 1st quarter. Royce & Associates LP now owns 169,256 shares of the asset manager's stock worth $24,177,000 after acquiring an additional 2,563 shares in the last quarter. Geode Capital Management LLC lifted its stake in Diamond Hill Investment Group by 4.4% in the 2nd quarter. Geode Capital Management LLC now owns 80,382 shares of the asset manager's stock worth $11,682,000 after acquiring an additional 3,379 shares in the last quarter. American Century Companies Inc. lifted its stake in Diamond Hill Investment Group by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 59,928 shares of the asset manager's stock worth $8,708,000 after acquiring an additional 8,631 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in 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 worth $6,962,000 after acquiring an additional 19,962 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.