Diamond Hill Investment Group (NASDAQ:DHIL) Shares Gap Up to $169.52

Defense World · Oct 23, 2022 15:41

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $169.52, but opened at $174.99. Diamond Hill Investment Group shares last traded at $174.99, with a volume of 1 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Diamond Hill Investment Group in a research report on Wednesday, October 12th. They set a "buy" rating for the company.

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Diamond Hill Investment Group Stock Up 3.9 %

The stock has a market capitalization of $545.88 million, a price-to-earnings ratio of 9.80 and a beta of 0.98. The business's 50-day moving average is $170.86 and its two-hundred day moving average is $175.85.

Diamond Hill Investment Group (NASDAQ:DHIL – Get Rating) last posted its earnings results on Thursday, July 28th. The asset manager reported $3.77 earnings per share for the quarter. The company had revenue of $39.02 million for the quarter. Diamond Hill Investment Group had a net margin of 31.87% and a return on equity of 33.22%.

Diamond Hill Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a $1.50 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $6.00 annualized dividend and a dividend yield of 3.41%. Diamond Hill Investment Group's dividend payout ratio is currently 33.39%.

Institutional Investors Weigh In On Diamond Hill Investment Group

Several large investors have recently added to or reduced their stakes in DHIL. DAVENPORT & Co LLC grew its position in shares of Diamond Hill Investment Group by 15.1% in the 1st quarter. DAVENPORT & Co LLC now owns 107,219 shares of the asset manager's stock valued at $20,258,000 after buying an additional 14,047 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Diamond Hill Investment Group by 2.9% in the 2nd quarter. Royce & Associates LP now owns 157,591 shares of the asset manager's stock worth $27,364,000 after acquiring an additional 4,508 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Diamond Hill Investment Group by 139.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,259 shares of the asset manager's stock worth $913,000 after acquiring an additional 3,059 shares during the period. American Century Companies Inc. lifted its stake in shares of Diamond Hill Investment Group by 26.0% in the 1st quarter. American Century Companies Inc. now owns 12,949 shares of the asset manager's stock worth $2,425,000 after acquiring an additional 2,675 shares during the period. Finally, Martin Capital Advisors LLP purchased a new position in shares of Diamond Hill Investment Group in the 2nd quarter valued at about $460,000. 63.88% of the stock is owned by hedge funds and other institutional investors.

Diamond Hill Investment Group Company Profile

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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.