Diamond Hill Investment Group (NASDAQ:DHIL) Stock Passes Below 200-Day Moving Average - Should You Sell?

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $156.47 and traded as low as $145.65. Diamond Hill Investment Group shares last traded at $147.03, with a volume of 12,467 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Diamond Hill Investment Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th.

Diamond Hill Investment Group Stock Up 2.7 %

The company has a market capitalization of $411.17 million, a price-to-earnings ratio of 8.55 and a beta of 1.02. The stock's fifty day moving average price is $160.46 and its 200-day moving average price is $156.47.

Diamond Hill Investment Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $1.50 per share. The ex-dividend date was Friday, November 22nd. This represents a $6.00 dividend on an annualized basis and a yield of 3.97%. Diamond Hill Investment Group's payout ratio is 33.98%.

Insider Buying and Selling

In other news, Director Richard Scott Cooley bought 1,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $152.25 per share, for a total transaction of $152,250.00. Following the completion of the acquisition, the director now owns 9,387 shares in the company, valued at approximately $1,429,170.75. This represents a 11.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pierre Nicole Renee St. sold 300 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $167.00, for a total transaction of $50,100.00. Following the completion of the transaction, the director now owns 4,187 shares in the company, valued at approximately $699,229. This represents a 6.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,600 shares of company stock worth $2,136,080. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Diamond Hill Investment Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Evergreen Wealth Management LLC boosted its position in shares of Diamond Hill Investment Group by 62.1% in the third quarter. Evergreen Wealth Management LLC now owns 26,454 shares of the asset manager's stock valued at $4,275,000 after acquiring an additional 10,138 shares during the period. Barclays PLC boosted its position in shares of Diamond Hill Investment Group by 279.9% in 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 period. Geode Capital Management LLC lifted its position in Diamond Hill Investment Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 72,980 shares of the asset manager's stock worth $11,797,000 after purchasing an additional 1,215 shares during the period. Creative Planning bought a new stake in Diamond Hill Investment Group during the third quarter worth about $354,000. Finally, Assenagon Asset Management S.A. lifted its position in Diamond Hill Investment Group by 369.9% during the third quarter. Assenagon Asset Management S.A. now owns 16,559 shares of the asset manager's stock worth $2,676,000 after purchasing an additional 13,035 shares during the period. 65.50% of the stock is currently owned by institutional investors and hedge funds.

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.