Strs Ohio Makes New $514,000 Investment in Diamond Hill Investment Group, Inc. $DHIL

Key Points

• Strs Ohio acquired a new stake in Diamond Hill Investment Group, purchasing 3,600 shares valued at approximately $514,000, representing about 0.13% of the company.
• Recent modifications in holdings by other hedge funds include a dramatic 26,184.0% increase by GAMMA Investing LLC, which now owns 6,571 shares valued at $939,000.
• Diamond Hill Investment Group has announced a quarterly dividend of $1.50 per share, yielding 4.3%, with an annualized dividend of $6.00.

Strs Ohio acquired a new position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,600 shares of the asset manager's stock, valued at approximately $514,000. Strs Ohio owned 0.13% of Diamond Hill Investment Group as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DHIL. Concurrent Investment Advisors LLC acquired a new stake in shares of Diamond Hill Investment Group during the first quarter worth $3,387,000. Millennium Management LLC grew its stake in shares of Diamond Hill Investment Group by 69.4% during the first quarter. Millennium Management LLC now owns 48,739 shares of the asset manager's stock worth $6,962,000 after purchasing an additional 19,962 shares during the period. Citadel Advisors LLC grew its stake in shares of Diamond Hill Investment Group by 765.3% during the fourth quarter. Citadel Advisors LLC now owns 11,881 shares of the asset manager's stock worth $1,843,000 after purchasing an additional 10,508 shares during the period. American Century Companies Inc. grew its stake in shares of Diamond Hill Investment Group by 23.5% during the first quarter. American Century Companies Inc. now owns 51,297 shares of the asset manager's stock worth $7,327,000 after purchasing an additional 9,770 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Diamond Hill Investment Group by 29.6% during the first quarter. AQR Capital Management LLC now owns 37,990 shares of the asset manager's stock worth $5,426,000 after purchasing an additional 8,675 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Diamond Hill Investment Group Stock Up 1.0%

Shares of NASDAQ:DHIL traded up $1.39 during mid-day trading on Monday, reaching $141.69. 16,109 shares of the stock were exchanged, compared to its average volume of 27,306. The company has a market cap of $386.81 million, a P/E ratio of 8.06 and a beta of 0.80. Diamond Hill Investment Group, Inc. has a one year low of $122.32 and a one year high of $173.25. The stock's 50 day simple moving average is $145.00 and its 200-day simple moving average is $142.11.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter. The business 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were 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 was Friday, August 29th. Diamond Hill Investment Group's dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In other news, Director Paula R. Meyer sold 350 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $141.80, for a total value of $49,630.00. Following the completion of the sale, the director directly owned 3,763 shares of the company's stock, valued at $533,593.40. This trade represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.60% of the stock is currently owned by insiders.

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.