AQR Capital Management LLC Increases Holdings in Diamond Hill Investment Group, Inc. $DHIL

Key Points

• AQR Capital Management increased its stake in Diamond Hill Investment Group by 29.6% during the first quarter, owning 1.36% of the company valued at approximately $5.4 million.
• Diamond Hill recently declared a quarterly dividend of $1.50 per share, equating to an annual yield of 4.2% and a payout ratio of 34.13%.
• Shares of Diamond Hill Investment Group dropped by 2.2%, with a recent trading value of $142.18, reflecting a 52-week low of $122.32 and a high of $173.25.

AQR Capital Management LLC raised its position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 29.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,990 shares of the asset manager's stock after purchasing an additional 8,675 shares during the quarter. AQR Capital Management LLC owned 1.36% of Diamond Hill Investment Group worth $5,426,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DHIL. GAMMA Investing LLC grew its stake in shares of Diamond Hill Investment Group by 26,184.0% during the 1st quarter. GAMMA Investing LLC now owns 6,571 shares of the asset manager's stock valued at $939,000 after acquiring an additional 6,546 shares during the period. Rhumbline Advisers boosted its stake in Diamond Hill Investment Group by 4.6% in the 1st quarter. Rhumbline Advisers now owns 4,154 shares of the asset manager's stock worth $593,000 after purchasing an additional 181 shares during the period. Citadel Advisors LLC boosted its stake in Diamond Hill Investment Group by 765.3% in 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 period. Bank of America Corp DE boosted its stake in Diamond Hill Investment Group by 13.7% in the 4th quarter. Bank of America Corp DE now owns 6,393 shares of the asset manager's stock worth $992,000 after purchasing an additional 772 shares during the period. Finally, Millennium Management LLC boosted its stake 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 purchasing an additional 7,569 shares during the period. 65.50% of the stock is currently owned by institutional investors.

Diamond Hill Investment Group Price Performance

Diamond Hill Investment Group stock traded up $2.49 during midday trading on Thursday, reaching $142.75. The company's stock had a trading volume of 15,980 shares, compared to its average volume of 25,632. The stock's 50-day simple moving average is $145.56 and its 200-day simple moving average is $142.32. Diamond Hill Investment Group, Inc. has a 52-week low of $122.32 and a 52-week high of $173.25. The stock has a market capitalization of $389.71 million, a P/E ratio of 8.12 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 during the quarter.

Diamond Hill Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, August 29th. Diamond Hill Investment Group's dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In related news, Director Paula R. Meyer sold 350 shares of Diamond Hill Investment Group stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $141.80, for a total transaction of $49,630.00. Following the completion of the transaction, the director directly owned 3,763 shares in the company, valued at approximately $533,593.40. This trade represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Diamond Hill Investment Group from a "hold" rating to a "buy" rating in a 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.