JPMorgan Chase & Co. Grows Stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

JPMorgan Chase & Co. raised its position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Free Report) by 66.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,262 shares of the asset manager's stock after acquiring an additional 4,493 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.41% of Diamond Hill Investment Group worth $1,820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evergreen Wealth Management LLC increased its position in shares of Diamond Hill Investment Group by 62.1% during the third quarter. Evergreen Wealth Management LLC now owns 26,454 shares of the asset manager's stock valued at $4,275,000 after buying an additional 10,138 shares during the period. Barclays PLC lifted its stake in shares of Diamond Hill Investment Group by 279.9% in the 3rd quarter. Barclays PLC now owns 4,654 shares of the asset manager's stock valued at $753,000 after purchasing an additional 3,429 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 valued at $11,797,000 after purchasing an additional 1,215 shares in the last quarter. Creative Planning purchased a new stake in Diamond Hill Investment Group in the third quarter worth $354,000. Finally, Assenagon Asset Management S.A. raised its holdings in Diamond Hill Investment Group by 369.9% in 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 in the last quarter. 65.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Diamond Hill Investment Group news, Director Richard Scott Cooley purchased 1,000 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $152.25 per share, for a total transaction of $152,250.00. Following the completion of the purchase, the director now directly owns 9,387 shares of the company's stock, valued at $1,429,170.75. This trade represents a 11.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James F. Laird, Jr. sold 5,000 shares of Diamond Hill Investment Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $168.53, for a total value of $842,650.00. Following the completion of the sale, the director now owns 20,000 shares of the company's stock, valued at $3,370,600. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,600 shares of company stock worth $2,136,080 in the last quarter. Corporate insiders own 3.50% of the company's stock.

Diamond Hill Investment Group Price Performance

NASDAQ:DHIL opened at $149.29 on Thursday. The firm has a market capitalization of $406.07 million, a P/E ratio of 8.45 and a beta of 1.02. Diamond Hill Investment Group, Inc. has a one year low of $135.44 and a one year high of $173.25. The company's 50-day simple moving average is $158.24 and its 200 day simple moving average is $156.67.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $3.35 earnings per share for the quarter. The company had revenue of $39.02 million during the quarter. Diamond Hill Investment Group had a return on equity of 20.00% and a net margin of 33.88%.

Diamond Hill Investment Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Friday, November 22nd. Diamond Hill Investment Group's dividend payout ratio is presently 33.98%.

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.