Diamond Hill Investment Group (NASDAQ:DHIL) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Diamond Hill Investment Group (NASDAQ:DHIL) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

Diamond Hill Investment Group Stock Performance

Shares of Diamond Hill Investment Group stock opened at $168.29 on Wednesday. The business’s 50 day moving average price is $156.91 and its 200 day moving average price is $153.15. The company has a market cap of $457.75 million, a price-to-earnings ratio of 9.53 and a beta of 1.00. Diamond Hill Investment Group has a one year low of $135.44 and a one year high of $173.98.

Diamond Hill Investment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Friday, November 22nd. Diamond Hill Investment Group’s dividend payout ratio is currently 33.98%.

Insiders Place Their Bets

In related news, Director L’quentus Thomas sold 250 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $161.64, for a total value of $40,410.00. Following the transaction, the director now directly owns 1,858 shares in the company, valued at approximately $300,327.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Diamond Hill Investment Group news, Director James F. Laird, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $168.53, for a total value of $842,650.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $3,370,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director L’quentus Thomas sold 250 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $161.64, for a total transaction of $40,410.00. Following the transaction, the director now directly owns 1,858 shares of the company’s stock, valued at approximately $300,327.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Diamond Hill Investment Group

Large investors have recently made changes to their positions in the stock. Frazier Financial Advisors LLC acquired a new stake in Diamond Hill Investment Group in the 3rd quarter valued at approximately $76,000. Western Pacific Wealth Management LP acquired a new stake in shares of Diamond Hill Investment Group in the third quarter valued at $81,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Diamond Hill Investment Group by 76.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager’s stock valued at $104,000 after buying an additional 320 shares during the period. EntryPoint Capital LLC boosted its holdings in Diamond Hill Investment Group by 256.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,281 shares of the asset manager’s stock valued at $197,000 after acquiring an additional 922 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Diamond Hill Investment Group in the 2nd quarter valued at about $214,000. 65.50% of the stock is currently owned by institutional investors and hedge funds.

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.