Wells Fargo & Company MN Sells 13,008 Shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Wells Fargo & Company MN lowered its position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,893 shares of the asset manager’s stock after selling 13,008 shares during the period. Wells Fargo & Company MN owned 1.98% of Diamond Hill Investment Group worth $8,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of DHIL. R Squared Ltd acquired a new stake in Diamond Hill Investment Group during the fourth quarter worth approximately $54,000. FMR LLC boosted its position in Diamond Hill Investment Group by 268.4% during the 3rd quarter. FMR LLC now owns 1,223 shares of the asset manager’s stock worth $198,000 after buying an additional 891 shares during the period. DGS Capital Management LLC bought a new stake in shares of Diamond Hill Investment Group in the fourth quarter worth $240,000. SG Americas Securities LLC increased its stake in shares of Diamond Hill Investment Group by 23.4% in the fourth quarter. SG Americas Securities LLC now owns 2,244 shares of the asset manager’s stock valued at $348,000 after buying an additional 426 shares during the period. Finally, Jane Street Group LLC raised its holdings in Diamond Hill Investment Group by 34.7% during the 3rd quarter. Jane Street Group LLC now owns 2,863 shares of the asset manager’s stock worth $463,000 after purchasing an additional 738 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

Diamond Hill Investment Group Stock Down 0.6 %

NASDAQ DHIL opened at $129.07 on Friday. Diamond Hill Investment Group, Inc. has a 52 week low of $128.18 and a 52 week high of $173.25. The business has a 50 day moving average price of $142.66 and a 200-day moving average price of $152.04. The company has a market cap of $359.72 million, a price-to-earnings ratio of 7.31 and a beta of 0.83.

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

Diamond Hill Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid 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 4.65%. Diamond Hill Investment Group’s payout ratio is currently 38.39%.

Insiders Place Their Bets

In related news, Director Richard Scott Cooley acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $144.00 per share, with a total value of $72,000.00. Following the acquisition, the director now owns 10,659 shares of the company’s stock, valued at approximately $1,534,896. This trade represents a 4.92 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders bought 1,422 shares of company stock valued at $205,593 over the last ninety days. 4.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.