8,533 Shares in Diamond Hill Investment Group, Inc. $DHIL Purchased by Nuveen LLC

Key Points

• Nuveen LLC purchased a new stake in Diamond Hill Investment Group, acquiring 8,533 shares valued at approximately $1,219,000, which represents a 0.31% ownership in the company.
• Wall Street analyst ratings saw a positive shift with Diamond Hill Investment Group upgraded from "hold" to "buy" as of August 2nd.
• The company declared a quarterly dividend of $1.50, translating to a 4.1% dividend yield and an annualized payout of $6.00, with a payout ratio of 34.13%.

Nuveen LLC purchased a new position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,533 shares of the asset manager's stock, valued at approximately $1,219,000. Nuveen LLC owned 0.31% of Diamond Hill Investment Group at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new stake in Diamond Hill Investment Group in the first quarter worth $3,387,000. Citadel Advisors LLC increased its position 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 buying an additional 10,508 shares during the last quarter. Millennium Management LLC increased its position 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 buying an additional 7,569 shares during the last quarter. GAMMA Investing LLC increased its position in Diamond Hill Investment Group by 26,184.0% in the first quarter. GAMMA Investing LLC now owns 6,571 shares of the asset manager's stock worth $939,000 after buying an additional 6,546 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Diamond Hill Investment Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 171,378 shares of the asset manager's stock worth $24,480,000 after buying an additional 5,832 shares during the last quarter. 65.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Diamond Hill Investment Group

In related news, insider Jo Ann Quinif purchased 2,750 shares of Diamond Hill Investment Group stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $144.01 per share, for a total transaction 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. This trade represents a 11.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.60% of the company's stock.

Diamond Hill Investment Group Trading Down 1.6%

Shares of NASDAQ DHIL traded down $2.29 during mid-day trading on Friday, hitting $142.50. The company had a trading volume of 26,044 shares, compared to its average volume of 24,749. The company has a market capitalization of $389.03 million, a price-to-earnings ratio of 8.11 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. The stock's 50-day moving average price is $147.77 and its 200-day moving average price is $142.62.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last announced its quarterly 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 return on equity of 21.38% and a net margin of 31.71%.

Diamond Hill Investment Group Dividend Announcement

The business also recently declared 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 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 34.13%.

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.