Charles Schwab Investment Management Inc. Decreases Position in Diamond Hill Investment Group, Inc. $DHIL

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Diamond Hill Investment Group by 22.2%, now holding 22,207 shares valued at approximately $3.17 million.
• Insider Jo Ann Quinif purchased 2,750 shares at an average cost of $144.01, increasing her ownership by nearly 12%.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized yield of 4.1%, with a payout ratio of 34.13%.

Charles Schwab Investment Management Inc. cut its position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 22.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,207 shares of the asset manager's stock after selling 6,342 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of Diamond Hill Investment Group worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of DHIL. Vanguard Group Inc. raised its stake in Diamond Hill Investment Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 171,378 shares of the asset manager's stock valued at $24,480,000 after buying an additional 5,832 shares in the last quarter. Royce & Associates LP raised its position in shares of Diamond Hill Investment Group by 1.5% during 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. Dimensional Fund Advisors LP lifted its stake in Diamond Hill Investment Group by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 79,638 shares of the asset manager's stock worth $12,352,000 after purchasing an additional 532 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Diamond Hill Investment Group by 7.8% in the first quarter. Alps Advisors Inc. now owns 31,916 shares of the asset manager's stock valued at $4,559,000 after purchasing an additional 2,318 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Diamond Hill Investment Group by 35.7% in the fourth quarter. Millennium Management LLC now owns 28,777 shares of the asset manager's stock valued at $4,463,000 after purchasing an additional 7,569 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Diamond Hill Investment Group Price Performance

Shares of DHIL stock traded down $1.07 during trading hours on Wednesday, reaching $141.49. 34,343 shares of the company's stock were exchanged, compared to its average volume of 25,785. Diamond Hill Investment Group, Inc. has a 1 year low of $122.32 and a 1 year high of $173.25. The company's 50 day moving average is $147.76 and its two-hundred day moving average is $142.69. The company has a market cap of $385.55 million, a P/E ratio of 8.05 and a beta of 0.80.

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

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 paid a dividend of $1.50 per share. 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 (DPR) is currently 34.13%.

Insider Buying and Selling at Diamond Hill Investment Group

In other news, insider Jo Ann Quinif bought 2,750 shares of Diamond Hill Investment Group stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average price of $144.01 per share, for a total transaction of $396,027.50. Following the completion of the acquisition, the insider owned 25,763 shares of the company's stock, valued at $3,710,129.63. The trade was a 11.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.