Koss Olinger Consulting LLC Buys New Stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Key Points

• Koss Olinger Consulting LLC acquired a new stake in Diamond Hill Investment Group, purchasing 4,231 shares valued at approximately $604,000, representing 0.15% of the company's stock.
• Diamond Hill Investment Group announced a quarterly dividend of $1.50 per share, with a dividend yield of 4.2% and a payout ratio of 34.13%.
• Analysts have recently upgraded Diamond Hill Investment Group's stock rating from "hold" to "buy", reflecting a positive outlook for the company.

Koss Olinger Consulting LLC purchased a new position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,231 shares of the asset manager's stock, valued at approximately $604,000. Koss Olinger Consulting LLC owned 0.15% of Diamond Hill Investment Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHIL. Signaturefd LLC increased its stake in Diamond Hill Investment Group by 68.5% during the 1st quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock worth $39,000 after buying an additional 111 shares during the period. Tower Research Capital LLC TRC increased its stake in Diamond Hill Investment Group by 300.9% during the 4th 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 period. CWM LLC increased its stake in Diamond Hill Investment Group by 969.6% during the 1st quarter. CWM LLC now owns 599 shares of the asset manager's stock worth $86,000 after buying an additional 543 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Diamond Hill Investment Group during the 4th quarter worth $109,000. Finally, Point72 Asset Management L.P. purchased a new stake in Diamond Hill Investment Group during the 4th quarter worth $199,000. Hedge funds and other institutional investors own 65.50% of the company's stock.

Diamond Hill Investment Group Stock Performance

DHIL opened at $142.41 on Friday. The company has a 50-day moving average of $145.97 and a 200-day moving average of $143.03. The company has a market capitalization of $388.07 million, a P/E ratio of 8.10 and a beta of 0.81. 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 released its earnings results on Tuesday, July 29th. The asset manager reported $2.86 earnings per share for the quarter. The company had revenue of $36.03 million during 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 Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $6.00 annualized dividend and a dividend yield of 4.2%. Diamond Hill Investment Group's payout ratio is presently 34.13%.

Insider Buying and Selling at Diamond Hill Investment Group

In related news, insider Jo Ann Quinif bought 2,750 shares of the company's 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 transaction, the insider owned 25,763 shares of the company's stock, valued at approximately $3,710,129.63. This trade represents a 11.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.60% of the company's stock.

Analyst Ratings Changes

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.