Gabelli Funds LLC Acquires 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 increased its position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 41.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,339 shares of the asset manager's stock after buying an additional 4,200 shares during the period. Gabelli Funds LLC owned 0.51% of Diamond Hill Investment Group worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in Diamond Hill Investment Group by 68.5% during the first quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock worth $39,000 after buying an additional 111 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Diamond Hill Investment Group by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 425 shares of the asset manager's stock worth $66,000 after buying an additional 319 shares during the last quarter. CWM LLC increased its holdings in Diamond Hill Investment Group by 969.6% during the first quarter. CWM LLC now owns 599 shares of the asset manager's stock worth $86,000 after buying an additional 543 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Diamond Hill Investment Group during the fourth quarter worth $109,000. Finally, Point72 Asset Management L.P. acquired a new position in Diamond Hill Investment Group during the fourth quarter worth $199,000. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Diamond Hill Investment Group news, insider Jo Ann Quinif bought 2,750 shares of Diamond Hill Investment Group stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $144.01 per share, with a total value of $396,027.50. Following the completion of the transaction, the insider owned 25,763 shares in the company, valued at $3,710,129.63. The trade was a 11.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.60% of the company's stock.

Diamond Hill Investment Group Price Performance

DHIL stock traded down $0.47 during midday trading on Wednesday, reaching $142.09. 35,446 shares of the company were exchanged, compared to its average volume of 25,794. The business has a 50-day moving average price of $147.76 and a two-hundred day moving average price of $142.69. Diamond Hill Investment Group, Inc. has a one year low of $122.32 and a one year high of $173.25. The firm has a market capitalization of $387.18 million, a price-to-earnings ratio of 8.06 and a beta of 0.80.

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 EPS 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 during the quarter.

Diamond Hill Investment Group Dividend Announcement

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

About Diamond Hill Investment Group

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.