Charles Schwab Investment Management Inc. Sells 6,254 Shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Charles Schwab Investment Management Inc. reduced its stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 18.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,549 shares of the asset manager's stock after selling 6,254 shares during the period. Charles Schwab Investment Management Inc. owned about 1.05% of Diamond Hill Investment Group worth $4,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DHIL. Proficio Capital Partners LLC purchased a new position in shares of Diamond Hill Investment Group in the fourth quarter worth $3,729,000. JPMorgan Chase & Co. grew its holdings in Diamond Hill Investment Group by 66.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,262 shares of the asset manager's stock worth $1,820,000 after acquiring an additional 4,493 shares during the last quarter. Martingale Asset Management L P increased its position in shares of Diamond Hill Investment Group by 95.7% in the third quarter. Martingale Asset Management L P now owns 7,824 shares of the asset manager's stock valued at $1,264,000 after acquiring an additional 3,827 shares during the period. Barclays PLC raised its stake in shares of Diamond Hill Investment Group by 279.9% during the third quarter. Barclays PLC now owns 4,654 shares of the asset manager's stock valued at $753,000 after acquiring an additional 3,429 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Diamond Hill Investment Group during the fourth quarter worth about $527,000. Institutional investors own 65.50% of the company's stock.

Diamond Hill Investment Group Stock Performance

Shares of Diamond Hill Investment Group stock traded down $1.39 during midday trading on Friday, reaching $144.31. 11,150 shares of the company's stock traded hands, compared to its average volume of 17,019. The stock has a 50 day moving average of $147.32 and a 200-day moving average of $154.56. Diamond Hill Investment Group, Inc. has a 12 month low of $135.44 and a 12 month high of $173.25. The company has a market cap of $402.19 million, a PE ratio of 8.17 and a beta of 1.01.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) 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 net margin of 33.88% and a return on equity of 20.00%. The business had revenue of $39.12 million during the quarter.

Diamond Hill Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.50 dividend. The ex-dividend date was Monday, March 10th. This represents a $6.00 annualized dividend and a yield of 4.16%. Diamond Hill Investment Group's dividend payout ratio (DPR) is presently 38.39%.

Insider Buying and Selling at Diamond Hill Investment Group

In other news, Director Richard Scott Cooley bought 500 shares of the stock in a transaction dated 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 purchase, the director now directly owns 10,159 shares in the company, valued at $1,483,214. This trade represents a 5.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have bought 1,322 shares of company stock valued at $191,343. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Diamond Hill Investment Group from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th.

Diamond Hill Investment Group Company 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.