Bank of New York Mellon Corp Lowers Stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Bank of New York Mellon Corp lessened its stake in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,398 shares of the asset manager's stock after selling 10,353 shares during the period. Bank of New York Mellon Corp owned approximately 0.53% of Diamond Hill Investment Group worth $2,233,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DHIL. Y Intercept Hong Kong Ltd increased its position in shares of Diamond Hill Investment Group by 5.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 1,926 shares of the asset manager's stock valued at $311,000 after acquiring an additional 96 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 302 shares in the last quarter. R Squared Ltd purchased a new position in shares of Diamond Hill Investment Group in the fourth quarter worth $54,000. SG Americas Securities LLC lifted its holdings in shares of Diamond Hill Investment Group by 23.4% during the fourth quarter. SG Americas Securities LLC now owns 2,244 shares of the asset manager's stock valued at $348,000 after purchasing an additional 426 shares in the last quarter. Finally, Legato Capital Management LLC boosted its position in shares of Diamond Hill Investment Group by 5.8% during the fourth quarter. Legato Capital Management LLC now owns 10,441 shares of the asset manager's stock valued at $1,619,000 after buying an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 65.50% of the company's stock.

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Insider Buying and Selling at Diamond Hill Investment Group

In related news, Director Richard Scott Cooley acquired 500 shares of Diamond Hill Investment Group stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $146.00 per share, for a total transaction of $73,000.00. Following the purchase, the director now directly owns 10,159 shares of the company's stock, valued at approximately $1,483,214. This trade represents a 5.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 1,322 shares of company stock worth $191,343 in the last three months. 3.50% of the stock is currently owned by company insiders.

Diamond Hill Investment Group Stock Performance

Shares of DHIL traded down $0.85 during mid-day trading on Tuesday, hitting $145.17. 13,605 shares of the company traded hands, compared to its average volume of 16,471. The stock has a market cap of $404.59 million, a price-to-earnings ratio of 8.22 and a beta of 1.01. The stock has a 50-day moving average price of $147.66 and a two-hundred day moving average price of $154.79. 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 - Get Free Report) last announced its earnings results on Wednesday, February 26th. The asset manager reported $3.66 earnings per share for the quarter. The business had revenue of $39.12 million during the quarter. Diamond Hill Investment Group had a net margin of 33.88% and a return on equity of 20.00%.

Diamond Hill Investment Group Announces Dividend

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

Analysts Set New Price Targets

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.

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.