Insider Selling: Diamond Hill Investment Group (NASDAQ:DHIL) Director Sells 250 Shares of Stock

Key Points

• Diamond Hill Investment Group Director L'quentus Thomas sold 250 shares on September 23rd at an average price of $141.10, reducing their total holdings by 8.98% to 2,534 shares.
• The company recently declared a quarterly dividend of $1.50 per share, resulting in an annual yield of 4.3% with a payout ratio of 34.13%.
• Wall Street analysts upgraded Diamond Hill Investment Group from a "hold" rating to a "buy" rating on August 2nd, reflecting increased confidence in the stock.

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) Director L'quentus Thomas sold 250 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $141.10, for a total value of $35,275.00. Following the completion of the sale, the director owned 2,534 shares in the company, valued at $357,547.40. The trade was a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Diamond Hill Investment Group Trading Down 0.0%

Shares of Diamond Hill Investment Group stock traded down $0.01 during trading hours on Thursday, reaching $139.78. 3,041 shares of the company's stock were exchanged, compared to its average volume of 25,898. Diamond Hill Investment Group, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $173.25. The stock has a market cap of $381.60 million, a P/E ratio of 7.95 and a beta of 0.80. The company has a 50 day moving average of $144.50 and a two-hundred day moving average of $142.08.

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

Diamond Hill Investment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were given a dividend of $1.50 per share. The ex-dividend date was Friday, August 29th. This represents a $6.00 annualized dividend and a yield of 4.3%. Diamond Hill Investment Group's dividend payout ratio (DPR) is presently 34.13%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Diamond Hill Investment Group

Several hedge funds and other institutional investors have recently made changes to their positions in DHIL. GAMMA Investing LLC boosted its holdings in shares of Diamond Hill Investment Group by 26,184.0% in the 1st quarter. GAMMA Investing LLC now owns 6,571 shares of the asset manager's stock valued at $939,000 after purchasing an additional 6,546 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Diamond Hill Investment Group by 4.6% during the 1st quarter. Rhumbline Advisers now owns 4,154 shares of the asset manager's stock worth $593,000 after buying an additional 181 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Diamond Hill Investment Group by 21.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,649 shares of the asset manager's stock worth $3,235,000 after buying an additional 3,980 shares during the last quarter. Millennium Management LLC raised its stake in Diamond Hill Investment Group by 35.7% during the fourth quarter. Millennium Management LLC now owns 28,777 shares of the asset manager's stock worth $4,463,000 after acquiring an additional 7,569 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Diamond Hill Investment Group by 13.7% during the fourth quarter. Bank of America Corp DE now owns 6,393 shares of the asset manager's stock worth $992,000 after acquiring an additional 772 shares in the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

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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