Annis Gardner Whiting Capital Advisors LLC Acquires Shares of 3,000 Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Key Points

• Annis Gardner Whiting Capital Advisors LLC made a new investment of approximately $429,000 in Diamond Hill Investment Group, acquiring 3,000 shares during the first quarter.
• Diamond Hill Investment Group recently announced a quarterly dividend of $1.50 per share, resulting in an annualized dividend yield of 4.3%.
• Wall Street Zen upgraded Diamond Hill Investment Group from a "hold" to a "buy" rating, indicating increased confidence in the company's stock performance.

Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,000 shares of the asset manager's stock, valued at approximately $429,000. Annis Gardner Whiting Capital Advisors LLC owned 0.11% of Diamond Hill Investment Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP lifted its holdings 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 buying an additional 2,563 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Diamond Hill Investment Group by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 79,638 shares of the asset manager's stock worth $12,352,000 after buying an additional 532 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Diamond Hill Investment Group by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 74,475 shares of the asset manager's stock worth $11,554,000 after buying an additional 1,495 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Diamond Hill Investment Group by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 31,916 shares of the asset manager's stock worth $4,559,000 after buying an additional 2,318 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Diamond Hill Investment Group by 35.7% in the 4th quarter. Millennium Management LLC now owns 28,777 shares of the asset manager's stock worth $4,463,000 after buying an additional 7,569 shares in the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Diamond Hill Investment Group Trading Up 1.1%

DHIL stock traded up $1.48 on Friday, hitting $142.41. 27,898 shares of the company's stock traded hands, compared to its average volume of 32,921. 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 market cap of $388.78 million, a price-to-earnings ratio of 8.10 and a beta of 0.81. The stock has a fifty day moving average of $145.97 and a 200-day moving average of $143.07.

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

Diamond Hill Investment Group Announces Dividend

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

Insiders Place Their Bets

In related news, insider Jo Ann Quinif purchased 2,750 shares of Diamond Hill Investment Group stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of $144.01 per share, with a total value of $396,027.50. Following the acquisition, the insider directly owned 25,763 shares in the company, 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 SEC, which is accessible through this link. 4.60% of the stock is currently owned by company insiders.

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.