Voleon Capital Management LP Buys New Shares in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Voleon Capital Management LP purchased a new position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,175 shares of the asset manager's stock, valued at approximately $337,000. Voleon Capital Management LP owned approximately 0.08% of Diamond Hill Investment Group at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Jane Street Group LLC grew its position in shares of Diamond Hill Investment Group by 34.7% in the third quarter. Jane Street Group LLC now owns 2,863 shares of the asset manager's stock valued at $463,000 after purchasing an additional 738 shares during the last quarter. Barclays PLC increased its position in shares of Diamond Hill Investment Group by 279.9% during the third quarter. Barclays PLC now owns 4,654 shares of the asset manager's stock valued at $753,000 after purchasing an additional 3,429 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Diamond Hill Investment Group by 66.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,262 shares of the asset manager's stock valued at $1,820,000 after acquiring an additional 4,493 shares in the last quarter. Merit Financial Group LLC increased its stake in Diamond Hill Investment Group by 10.5% in the fourth quarter. Merit Financial Group LLC now owns 12,914 shares of the asset manager's stock valued at $2,003,000 after acquiring an additional 1,226 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Diamond Hill Investment Group by 23.4% in the 4th quarter. SG Americas Securities LLC now owns 2,244 shares of the asset manager's stock valued at $348,000 after purchasing an additional 426 shares during the period. Institutional investors and hedge funds own 65.50% of the company's stock.

Insider Transactions at Diamond Hill Investment Group

In other news, Director Richard Scott Cooley bought 500 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $146.00 per share, for a total transaction of $73,000.00. Following the acquisition, the director now owns 10,159 shares in the company, valued at approximately $1,483,214. This trade represents a 5.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired a total of 2,422 shares of company stock valued at $330,093 over the last 90 days. 4.60% of the stock is owned by company insiders.

Diamond Hill Investment Group Price Performance

Shares of DHIL stock traded up $4.41 on Monday, reaching $135.82. 19,829 shares of the stock were exchanged, compared to its average volume of 17,380. The stock has a market cap of $378.53 million, a PE ratio of 7.69 and a beta of 0.76. Diamond Hill Investment Group, Inc. has a one year low of $122.32 and a one year high of $173.25. The stock has a 50 day moving average price of $138.54 and a 200 day moving average price of $149.79.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The asset manager reported $3.23 EPS for the quarter. Diamond Hill Investment Group had a net margin of 33.88% and a return on equity of 20.00%. The company had revenue of $37.12 million during the quarter.

Diamond Hill Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Monday, June 2nd. Diamond Hill Investment Group's dividend payout ratio is currently 40.60%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Diamond Hill Investment Group from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th.

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.