Diamond Hill Investment Group (NASDAQ:DHIL) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $141.64 and traded as low as $135.95. Diamond Hill Investment Group shares last traded at $135.95, with a volume of 29,556 shares.

Analyst Ratings Changes

DHIL has been the subject of a number of recent research reports. Wall Street Zen raised Diamond Hill Investment Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Diamond Hill Investment Group in a report on Wednesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Diamond Hill Investment Group Trading Down 3.0%

The firm has a market cap of $371.14 million, a price-to-earnings ratio of 7.73 and a beta of 0.81. The stock has a fifty day moving average price of $142.62 and a 200 day moving average price of $141.64.

Diamond Hill Investment Group (NASDAQ:DHIL) last issued its quarterly earnings results on Tuesday, July 29th. The asset manager reported $2.86 EPS for the quarter. Diamond Hill Investment Group had a return on equity of 21.38% and a net margin of 31.71%.The company had revenue of $36.03 million during the quarter.

Diamond Hill Investment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, August 29th. Diamond Hill Investment Group’s dividend payout ratio is currently 34.13%.

Insider Activity at Diamond Hill Investment Group

In other news, Director L’quentus Thomas sold 250 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $141.10, for a total value of $35,275.00. Following the completion of the sale, the director directly owned 2,534 shares of the company’s stock, valued at approximately $357,547.40. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paula R. Meyer sold 350 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $141.80, for a total value of $49,630.00. Following the completion of the sale, the director directly owned 3,763 shares of the company’s stock, valued at $533,593.40. This represents a 8.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamond Hill Investment Group

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Diamond Hill Investment Group by 1,018.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $26,000 after purchasing an additional 163 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Diamond Hill Investment Group by 68.5% during the 1st quarter. Signaturefd LLC now owns 273 shares of the asset manager’s stock worth $39,000 after purchasing an additional 111 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Diamond Hill Investment Group by 319.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 281 shares of the asset manager’s stock worth $41,000 after purchasing an additional 214 shares in the last quarter. State of Wyoming acquired a new stake in shares of Diamond Hill Investment Group during the 1st quarter worth approximately $54,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Diamond Hill Investment Group during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 65.50% of the company’s stock.

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.