Alps Advisors Inc. Increases Stock Holdings in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Alps Advisors Inc. increased its holdings in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) by 7.8% in the first quarter, Holdings Channel.com reports. The firm owned 31,916 shares of the asset manager’s stock after purchasing an additional 2,318 shares during the period. Alps Advisors Inc.’s holdings in Diamond Hill Investment Group were worth $4,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHIL. Tower Research Capital LLC TRC grew its position in shares of Diamond Hill Investment Group by 300.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 425 shares of the asset manager’s stock valued at $66,000 after purchasing an additional 319 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Diamond Hill Investment Group in the fourth quarter valued at $109,000. Point72 Asset Management L.P. purchased a new stake in shares of Diamond Hill Investment Group in the fourth quarter valued at $199,000. Deutsche Bank AG grew its position in shares of Diamond Hill Investment Group by 49.9% in the fourth quarter. Deutsche Bank AG now owns 1,391 shares of the asset manager’s stock valued at $216,000 after purchasing an additional 463 shares during the period. Finally, Polymer Capital Management US LLC purchased a new stake in shares of Diamond Hill Investment Group in the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Insider Transactions at Diamond Hill Investment Group

In other news, Director Richard Scott Cooley purchased 278 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $134.10 per share, with a total value of $37,279.80. Following the completion of the transaction, the director owned 13,829 shares in the company, valued at approximately $1,854,468.90. The trade was a 2.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jo Ann Quinif purchased 2,750 shares of the stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $144.01 per share, with a total value of $396,027.50. Following the transaction, the insider owned 25,763 shares of the company’s stock, valued at $3,710,129.63. This trade represents a 11.95% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,152 shares of company stock valued at $573,803. 4.60% of the stock is owned by company insiders.

Diamond Hill Investment Group Stock Down 2.7%

Shares of NASDAQ:DHIL opened at $154.18 on Friday. The company has a market cap of $420.91 million, a P/E ratio of 10.43 and a beta of 0.80. Diamond Hill Investment Group, Inc. has a 52 week low of $122.32 and a 52 week high of $173.25. The business has a fifty day simple moving average of $143.40 and a 200-day simple moving average of $143.70.

Diamond Hill Investment Group (NASDAQ:DHIL) last posted its quarterly earnings results on Tuesday, April 29th. The asset manager reported $3.23 earnings per share (EPS) for the quarter. Diamond Hill Investment Group had a return on equity of 21.99% and a net margin of 26.68%. The firm had revenue of $37.12 million during the quarter.

Diamond Hill Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Monday, June 2nd. Diamond Hill Investment Group’s dividend payout ratio (DPR) is presently 40.60%.

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.