American Century Companies Inc. Increases Stock Holdings in Diamond Hill Investment Group, Inc. $DHIL

Key Points

• American Century Companies Inc. increased its stake in Diamond Hill Investment Group by 23.5%, owning approximately 1.84% of the company valued at $7.3 million as of the latest SEC filing.
• Insider Jo Ann Quinif bought 2,750 shares at an average price of $144.01, raising her total shares to 25,763, marking an 11.95% increase in her position.
• Wall Street Zen upgraded Diamond Hill Investment Group from a "hold" to a "buy" rating, reflecting positive sentiment from analysts regarding the stock's performance.

American Century Companies Inc. raised its stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 23.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,297 shares of the asset manager's stock after purchasing an additional 9,770 shares during the period. American Century Companies Inc. owned about 1.84% of Diamond Hill Investment Group worth $7,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DHIL. Boston Partners raised its position in shares of Diamond Hill Investment Group by 44.5% during the 1st quarter. Boston Partners now owns 20,705 shares of the asset manager's stock worth $2,958,000 after acquiring an additional 6,377 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Diamond Hill Investment Group during the 1st quarter worth about $1,219,000. Invesco Ltd. raised its position in shares of Diamond Hill Investment Group by 3.4% during the 1st quarter. Invesco Ltd. now owns 8,852 shares of the asset manager's stock worth $1,264,000 after acquiring an additional 288 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of Diamond Hill Investment Group during the 1st quarter worth about $604,000. Finally, Vanguard Group Inc. raised its position in shares of Diamond Hill Investment Group by 3.5% during 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. Institutional investors and hedge funds own 65.50% of the company's stock.

Insider Buying and Selling

In related 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 cost of $144.01 per share, for a total transaction of $396,027.50. Following the purchase, the insider owned 25,763 shares of the company's stock, valued at $3,710,129.63. This trade represents a 11.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Diamond Hill Investment Group Stock Down 2.2%

DHIL traded down $3.21 during trading on Tuesday, hitting $142.55. 19,734 shares of the stock were exchanged, compared to its average volume of 24,214. The firm has a market capitalization of $389.16 million, a P/E ratio of 8.11 and a beta of 0.80. Diamond Hill Investment Group, Inc. has a 1-year low of $122.32 and a 1-year high of $173.25. The stock has a fifty day moving average price of $147.76 and a two-hundred day moving average price of $142.69.

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

Diamond Hill Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $6.00 annualized dividend and a yield of 4.2%. Diamond Hill Investment Group's payout ratio is 34.13%.

Diamond Hill Investment Group 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.