Bank of New York Mellon Corp Decreases Position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Bank of New York Mellon Corp lessened its holdings in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) by 41.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,398 shares of the asset manager’s stock after selling 10,353 shares during the period. Bank of New York Mellon Corp owned approximately 0.53% of Diamond Hill Investment Group worth $2,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DHIL. Victory Capital Management Inc. boosted its position in Diamond Hill Investment Group by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 7,322 shares of the asset manager’s stock valued at $1,183,000 after buying an additional 302 shares during the period. Algert Global LLC boosted its position in Diamond Hill Investment Group by 25.1% in the 3rd quarter. Algert Global LLC now owns 2,893 shares of the asset manager’s stock valued at $468,000 after buying an additional 580 shares during the period. FMR LLC boosted its position in Diamond Hill Investment Group by 268.4% in the 3rd quarter. FMR LLC now owns 1,223 shares of the asset manager’s stock valued at $198,000 after buying an additional 891 shares during the period. Martingale Asset Management L P boosted its position in Diamond Hill Investment Group by 95.7% in the 3rd quarter. Martingale Asset Management L P now owns 7,824 shares of the asset manager’s stock valued at $1,264,000 after buying an additional 3,827 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Diamond Hill Investment Group in the 3rd quarter valued at approximately $217,000. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Insider Transactions at Diamond Hill Investment Group

In related news, Director Richard Scott Cooley purchased 500 shares of Diamond Hill Investment Group stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $146.00 per share, with a total value of $73,000.00. Following the completion of the transaction, the director now directly owns 10,159 shares in the company, valued at approximately $1,483,214. The trade was a 5.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders bought 1,272 shares of company stock valued at $184,168. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

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

Diamond Hill Investment Group Trading Down 0.7 %

Diamond Hill Investment Group stock opened at $143.66 on Friday. The stock has a market cap of $400.38 million, a P/E ratio of 8.13 and a beta of 1.01. The company has a fifty day simple moving average of $147.66 and a 200-day simple moving average of $154.86. Diamond Hill Investment Group, Inc. has a 12-month low of $135.44 and a 12-month high of $173.25.

Diamond Hill Investment Group (NASDAQ:DHIL) last released its quarterly earnings data on Wednesday, February 26th. The asset manager reported $3.66 earnings per share (EPS) for the quarter. The business had revenue of $39.12 million during the quarter. Diamond Hill Investment Group had a net margin of 33.88% and a return on equity of 20.00%.

Diamond Hill Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.50 per share. The ex-dividend date was Monday, March 10th. This represents a $6.00 annualized dividend and a dividend yield of 4.18%. Diamond Hill Investment Group’s dividend payout ratio (DPR) is currently 38.39%.

Diamond Hill Investment Group 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.