Charles Schwab Investment Management Inc. Lowers Stock Holdings in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Charles Schwab Investment Management Inc. lowered its position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) by 18.0% in the 4th quarter, HoldingsChannel reports. The firm owned 28,549 shares of the asset manager’s stock after selling 6,254 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Diamond Hill Investment Group were worth $4,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted 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 worth $1,183,000 after buying an additional 302 shares during the last quarter. Algert Global LLC lifted its holdings in shares of 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 worth $468,000 after acquiring an additional 580 shares during the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 891 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Diamond Hill Investment Group by 95.7% during 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 purchasing an additional 3,827 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Diamond Hill Investment Group in the 3rd quarter worth $217,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

Diamond Hill Investment Group Price Performance

DHIL opened at $145.17 on Wednesday. The stock’s 50 day simple moving average is $147.62 and its 200 day simple moving average is $154.74. The firm has a market cap of $404.59 million, a price-to-earnings ratio of 8.22 and a beta of 1.01. Diamond Hill Investment Group, Inc. has a 1 year low of $135.44 and a 1 year high of $173.25.

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

Diamond Hill Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Monday, March 10th. Diamond Hill Investment Group’s payout ratio is 38.39%.

Analysts Set New Price Targets

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

Insider Activity

In other Diamond Hill Investment Group news, Director Richard Scott Cooley bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $146.00 per share, for a total transaction of $73,000.00. Following the completion of the acquisition, the director now directly owns 10,159 shares in the company, valued at $1,483,214. The trade was a 5.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 1,322 shares of company stock valued at $191,343. Insiders own 3.50% of the company’s stock.

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.