Alps Advisors Inc. Buys 2,318 Shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Alps Advisors Inc. raised its position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,916 shares of the asset manager's stock after purchasing an additional 2,318 shares during the quarter. Alps Advisors Inc. owned 1.15% of Diamond Hill Investment Group worth $4,559,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in 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 purchasing an additional 6,546 shares during the period. Rhumbline Advisers boosted its holdings in Diamond Hill Investment Group by 4.6% in the first quarter. Rhumbline Advisers now owns 4,154 shares of the asset manager's stock worth $593,000 after purchasing an additional 181 shares in the last quarter. Citadel Advisors LLC boosted its holdings in Diamond Hill Investment Group by 765.3% in the fourth 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 in the last quarter. Millennium Management LLC boosted its holdings 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 worth $4,463,000 after purchasing an additional 7,569 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Diamond Hill Investment Group by 13.7% during the fourth quarter. Bank of America Corp DE now owns 6,393 shares of the asset manager's stock valued at $992,000 after acquiring an additional 772 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamond Hill Investment Group news, Director Richard Scott Cooley purchased 1,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $124.50 per share, for a total transaction of $124,500.00. Following the purchase, the director owned 12,735 shares of the company's stock, valued at approximately $1,585,507.50. This represents a 8.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 bought 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 $3,710,129.63. This trade represents a 11.95% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 4,152 shares of company stock valued at $573,803. Company insiders own 4.60% of the company's stock.

Diamond Hill Investment Group Stock Performance

Shares of DHIL traded down $4.12 during trading hours on Tuesday, reaching $151.89. 103,933 shares of the company traded hands, compared to its average volume of 21,782. The stock's fifty day moving average is $143.80 and its 200 day moving average is $143.55. The stock has a market cap of $414.66 million, a P/E ratio of 10.28 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.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The asset manager reported $3.23 earnings per share for the quarter. Diamond Hill Investment Group had a net margin of 26.68% and a return on equity of 21.99%. The company had revenue of $37.12 million during the quarter.

Diamond Hill Investment Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $1.50 per share. The ex-dividend date was Monday, June 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.95%. Diamond Hill Investment Group's dividend payout ratio is 40.60%.

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.