Trinity Financial Advisors LLC Invests $509,000 in Diamond Hill Investment Group, Inc. $DHIL

Key Points

• Trinity Financial Advisors LLC invested approximately $509,000 in Diamond Hill Investment Group by purchasing 3,500 shares, representing about 0.13% ownership of the company.
• Several hedge funds, including Jane Street Group LLC and Citadel Advisors LLC, significantly increased their positions in Diamond Hill Investment Group during the fourth quarter, with Citadel Advisors raising its stake by 765.3%.
• Diamond Hill Investment Group declared a quarterly dividend of $1.50 per share, with an annualized yield of 4.2%, reflecting a dividend payout ratio of 34.13%.

Trinity Financial Advisors LLC purchased a new position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,500 shares of the asset manager's stock, valued at approximately $509,000. Trinity Financial Advisors LLC owned approximately 0.13% of Diamond Hill Investment Group at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DHIL. Jane Street Group LLC lifted its position 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 worth $635,000 after purchasing an additional 1,229 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Diamond Hill Investment Group by 32.3% in the fourth quarter. Ameriprise Financial Inc. now owns 6,529 shares of the asset manager's stock worth $1,013,000 after purchasing an additional 1,594 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Diamond Hill Investment Group by 13.7% in the fourth quarter. Bank of America Corp DE now owns 6,393 shares of the asset manager's stock worth $992,000 after purchasing an additional 772 shares in the last quarter. Citadel Advisors LLC lifted its position 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 worth $1,843,000 after purchasing an additional 10,508 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Diamond Hill Investment Group in the fourth quarter worth approximately $109,000. 65.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Diamond Hill Investment Group Stock Performance

NASDAQ:DHIL opened at $142.18 on Friday. Diamond Hill Investment Group, Inc. has a 52 week low of $122.32 and a 52 week high of $173.25. The stock's 50 day moving average price is $146.76 and its 200 day moving average price is $142.42. The company has a market capitalization of $388.15 million, a P/E ratio of 8.09 and a beta of 0.80.

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 EPS for the quarter. Diamond Hill Investment Group had a return on equity of 21.38% and a net margin of 31.71%.The company had revenue of $36.03 million for the quarter.

Diamond Hill Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, August 29th. Diamond Hill Investment Group's dividend payout ratio (DPR) is 34.13%.

Insider Buying and Selling

In other Diamond Hill Investment Group news, Director Paula R. Meyer sold 350 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $141.80, for a total transaction of $49,630.00. Following the transaction, the director owned 3,763 shares in the company, valued at $533,593.40. This trade represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.60% of the stock is currently owned by company 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.

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