Diamond Hill Investment Group (NASDAQ:DHIL) Shares Pass Above Two Hundred Day Moving Average of $175.57

Diamond Hill Investment Group, Inc. (NASDAQ:DHILGet Rating)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $175.57 and traded as high as $180.98. Diamond Hill Investment Group shares last traded at $178.95, with a volume of 8,203 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Diamond Hill Investment Group in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock.

Diamond Hill Investment Group Trading Down 1.1 %

The firm has a market capitalization of $539.71 million, a PE ratio of 12.93 and a beta of 0.99. The stock has a 50 day simple moving average of $172.20 and a 200 day simple moving average of $175.57.

Diamond Hill Investment Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be paid a dividend of $5.50 per share. The ex-dividend date is Wednesday, November 23rd. This is a boost from Diamond Hill Investment Group’s previous quarterly dividend of $1.50. This represents a $22.00 annualized dividend and a dividend yield of 12.29%. Diamond Hill Investment Group’s payout ratio is 43.35%.

Hedge Funds Weigh In On Diamond Hill Investment Group

Several hedge funds have recently made changes to their positions in DHIL. MCF Advisors LLC purchased a new position in shares of Diamond Hill Investment Group during the first quarter valued at approximately $28,000. Gladius Capital Management LP purchased a new position in shares of Diamond Hill Investment Group during the second quarter valued at approximately $35,000. Dorsey Wright & Associates purchased a new position in shares of Diamond Hill Investment Group during the second quarter valued at approximately $36,000. Signaturefd LLC increased its stake in shares of Diamond Hill Investment Group by 54.1% during the first quarter. Signaturefd LLC now owns 208 shares of the asset manager’s stock valued at $39,000 after buying an additional 73 shares during the period. Finally, UBS Group AG increased its stake in shares of Diamond Hill Investment Group by 25.4% during the third quarter. UBS Group AG now owns 301 shares of the asset manager’s stock valued at $50,000 after buying an additional 61 shares during the period. 63.88% of the stock is owned by hedge funds and other institutional investors.

Diamond Hill Investment Group Company Profile

(Get Rating)

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 sponsors, distributes, and offers investment advisory and related services to its clients through pooled investment vehicles, including the Diamond Hill Funds, separately managed accounts, and model delivery programs.

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