Vanguard Group Inc. Buys 5,832 Shares of Diamond Hill Investment Group, Inc. $DHIL

Key Points

• Vanguard Group Inc. increased its stake in Diamond Hill Investment Group by 3.5%, owning approximately 6.15% of the company worth $24.48 million after purchasing an additional 5,832 shares.
• Diamond Hill Investment Group recently announced a quarterly dividend of $1.50 per share, which equates to an annualized yield of 4.0%.
• Wall Street analysts upgraded Diamond Hill Investment Group from a "hold" to a "buy" rating, indicating positive market sentiment and potential investments in the company's stock.

Vanguard Group Inc. raised its stake in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,378 shares of the asset manager's stock after buying an additional 5,832 shares during the quarter. Vanguard Group Inc. owned about 6.15% of Diamond Hill Investment Group worth $24,480,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DHIL. Signaturefd LLC boosted its position in shares of Diamond Hill Investment Group by 68.5% during the 1st quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock valued at $39,000 after acquiring an additional 111 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $66,000 after acquiring an additional 319 shares during the last quarter. CWM LLC boosted its position in shares of Diamond Hill Investment Group by 969.6% during the 1st quarter. CWM LLC now owns 599 shares of the asset manager's stock valued at $86,000 after acquiring an additional 543 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Diamond Hill Investment Group during the 4th quarter valued at about $109,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Diamond Hill Investment Group during the 4th quarter valued at about $199,000. Institutional investors own 65.50% of the company's stock.

Diamond Hill Investment Group Stock Performance

NASDAQ:DHIL traded down $0.52 during mid-day trading on Wednesday, reaching $142.03. The stock had a trading volume of 43,041 shares, compared to its average volume of 24,214. The firm has a 50 day moving average price of $147.77 and a two-hundred day moving average price of $142.68. The stock has a market capitalization of $387.74 million, a P/E ratio of 8.08 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.

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 return on equity of 21.38% and a net margin of 31.71%.

Diamond Hill Investment Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 dividend on an annualized basis and a yield of 4.2%. Diamond Hill Investment Group's payout ratio is presently 34.13%.

Insiders Place Their Bets

In other news, insider Jo Ann Quinif bought 2,750 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $144.01 per share, for a total transaction of $396,027.50. Following the transaction, the insider directly owned 25,763 shares of the company's stock, valued at $3,710,129.63. This represents a 11.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.