Gabelli Funds LLC Purchases 4,200 Shares of Diamond Hill Investment Group, Inc. $DHIL

Key Points

• Gabelli Funds LLC increased its stake in Diamond Hill Investment Group by 41.4% in Q1, owning 14,339 shares worth approximately $2,048,000.
• The quarterly dividend of $1.50 per share will be paid on September 12th, representing an annual yield of 4.1%.
• Wall Street analysts upgraded Diamond Hill Investment Group from a "hold" rating to a "buy" rating, suggesting potential growth for the company.

Gabelli Funds LLC lifted its stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,339 shares of the asset manager's stock after purchasing an additional 4,200 shares during the quarter. Gabelli Funds LLC owned about 0.51% of Diamond Hill Investment Group worth $2,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Diamond Hill Investment Group by 68.5% in the 1st quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock worth $39,000 after purchasing an additional 111 shares during the period. Rhumbline Advisers boosted its holdings in shares of 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. Invesco Ltd. boosted its holdings in shares of Diamond Hill Investment Group by 3.4% in the 1st quarter. Invesco Ltd. now owns 8,852 shares of the asset manager's stock worth $1,264,000 after purchasing an additional 288 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Diamond Hill Investment Group by 20.1% in the 4th quarter. MetLife Investment Management LLC now owns 1,774 shares of the asset manager's stock worth $275,000 after purchasing an additional 297 shares during the period. Finally, Abundance Wealth Counselors boosted its holdings in shares of Diamond Hill Investment Group by 6.8% in the 1st quarter. Abundance Wealth Counselors now owns 4,888 shares of the asset manager's stock worth $698,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 65.50% of the company's stock.

Diamond Hill Investment Group Trading Up 1.9%

Shares of DHIL stock traded up $2.76 on Thursday, reaching $144.79. 26,427 shares of the company's stock were exchanged, compared to its average volume of 24,705. 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 $395.28 million, a PE ratio of 8.24 and a beta of 0.80. The company's fifty day simple moving average is $147.79 and its 200 day simple moving average is $142.66.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last issued its quarterly earnings results 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, August 29th. Diamond Hill Investment Group's dividend payout ratio (DPR) is currently 34.13%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider Jo Ann Quinif bought 2,750 shares of the firm's stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $144.01 per share, with a total value of $396,027.50. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.60% of the company's stock.

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.