Millennium Management LLC Acquires 7,569 Shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Millennium Management LLC lifted its position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 35.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,777 shares of the asset manager's stock after purchasing an additional 7,569 shares during the quarter. Millennium Management LLC owned 1.06% of Diamond Hill Investment Group worth $4,463,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Diamond Hill Investment Group in the fourth quarter valued at $527,000. Citadel Advisors LLC raised its stake in shares of 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 valued at $1,843,000 after purchasing an additional 10,508 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Diamond Hill Investment Group by 66.3% in the fourth quarter. JPMorgan Chase & Co. now owns 18,731 shares of the asset manager's stock valued at $2,905,000 after purchasing an additional 7,469 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Diamond Hill Investment Group by 42.9% in the fourth quarter. Jane Street Group LLC now owns 4,092 shares of the asset manager's stock valued at $635,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Diamond Hill Investment Group in the fourth quarter valued at $3,729,000. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Diamond Hill Investment Group Stock Down 0.8%

Diamond Hill Investment Group stock traded down $1.08 during mid-day trading on Friday, hitting $141.79. 7,951 shares of the company were exchanged, compared to its average volume of 16,877. The business has a fifty day moving average of $136.31 and a 200 day moving average of $147.44. Diamond Hill Investment Group, Inc. has a 1-year low of $122.32 and a 1-year high of $173.25. The company has a market capitalization of $386.80 million, a PE ratio of 8.03 and a beta of 0.76.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The asset manager reported $3.23 earnings per share (EPS) for the quarter. Diamond Hill Investment Group had a return on equity of 20.00% and a net margin of 33.88%. The firm had revenue of $37.12 million during the quarter.

Diamond Hill Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.00 annualized dividend and a yield of 4.23%. Diamond Hill Investment Group's dividend payout ratio is currently 40.60%.

Insiders Place Their Bets

In other Diamond Hill Investment Group news, Director Richard Scott Cooley bought 500 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $144.00 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the director now owns 10,659 shares of the company's stock, valued at approximately $1,534,896. This trade represents a 4.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased 2,552 shares of company stock worth $344,201 over the last three months. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Diamond Hill Investment Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th.

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.