Merit Financial Group LLC bought a new position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL – Get Rating) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,478 shares of the asset manager’s stock, valued at approximately $244,000.
A number of other institutional investors have also added to or reduced their stakes in DHIL. Martingale Asset Management L P increased its position in shares of Diamond Hill Investment Group by 2.7% during the 2nd quarter. Martingale Asset Management L P now owns 3,793 shares of the asset manager’s stock valued at $660,000 after purchasing an additional 100 shares during the last quarter. Prospector Partners LLC increased its position in shares of Diamond Hill Investment Group by 0.8% during the 2nd quarter. Prospector Partners LLC now owns 11,950 shares of the asset manager’s stock valued at $2,075,000 after purchasing an additional 100 shares during the last quarter. Dean Capital Management increased its position in shares of Diamond Hill Investment Group by 1.0% during the 2nd quarter. Dean Capital Management now owns 12,087 shares of the asset manager’s stock valued at $2,099,000 after purchasing an additional 119 shares during the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of Diamond Hill Investment Group by 1.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 12,878 shares of the asset manager’s stock valued at $2,236,000 after purchasing an additional 137 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Diamond Hill Investment Group by 23.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 739 shares of the asset manager’s stock valued at $128,000 after acquiring an additional 142 shares during the period. 62.83% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Diamond Hill Investment Group news, CFO Thomas Edward Line sold 1,500 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $182.36, for a total value of $273,540.00. Following the completion of the sale, the chief financial officer now owns 18,387 shares in the company, valued at approximately $3,353,053.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.50% of the company’s stock.
Diamond Hill Investment Group Price Performance
Shares of DHIL stock opened at $186.50 on Friday. The stock has a market capitalization of $563.23 million, a PE ratio of 13.48 and a beta of 0.94. Diamond Hill Investment Group, Inc. has a 1-year low of $160.00 and a 1-year high of $213.50. The business has a 50-day moving average of $181.90 and a 200 day moving average of $177.81.
Diamond Hill Investment Group (NASDAQ:DHIL – Get Rating) last issued its earnings results on Wednesday, October 26th. The asset manager reported $3.55 earnings per share for the quarter. The company had revenue of $38.27 million during the quarter. Diamond Hill Investment Group had a return on equity of 30.69% and a net margin of 26.79%.
Diamond Hill Investment Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Friday, November 25th were issued a $5.50 dividend. The ex-dividend date of this dividend was Wednesday, November 23rd. This represents a $22.00 annualized dividend and a yield of 11.80%. This is a boost from Diamond Hill Investment Group’s previous quarterly dividend of $1.50. Diamond Hill Investment Group’s dividend payout ratio (DPR) is 43.35%.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Diamond Hill Investment Group in a report on Wednesday, October 12th. They set a “buy” rating for the company.
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 sponsors, distributes, and offers investment advisory and related services to its clients through pooled investment vehicles, including the Diamond Hill Funds, separately managed accounts, and model delivery programs.
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Read More: Merit Financial Group LLC Makes New $244,000 Investment in Diamond Hill