Allspring Global Investments Holdings LLC Makes New Investment in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Allspring Global Investments Holdings LLC purchased a new stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 425 shares of the asset manager’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its position in Diamond Hill Investment Group by 8.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,301 shares of the asset manager’s stock valued at $388,000 after purchasing an additional 184 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Diamond Hill Investment Group by 9.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,904 shares of the asset manager’s stock worth $658,000 after buying an additional 325 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Diamond Hill Investment Group by 2.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,838 shares of the asset manager’s stock worth $3,513,000 after buying an additional 466 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Diamond Hill Investment Group during the 3rd quarter worth approximately $44,000. Finally, Punch & Associates Investment Management Inc. lifted its position in Diamond Hill Investment Group by 9.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 24,500 shares of the asset manager’s stock valued at $4,130,000 after acquiring an additional 2,200 shares during the last quarter. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Diamond Hill Investment Group from a “hold” rating to a “buy” rating in a report on Thursday, January 25th.

Diamond Hill Investment Group Price Performance

Shares of DHIL stock opened at $150.27 on Tuesday. The stock’s fifty day moving average price is $150.71 and its 200 day moving average price is $157.24. Diamond Hill Investment Group, Inc. has a 1-year low of $144.35 and a 1-year high of $188.28. The company has a market cap of $426.77 million, a price-to-earnings ratio of 10.48 and a beta of 0.97.

Diamond Hill Investment Group (NASDAQ:DHIL) last issued its quarterly earnings results on Thursday, February 29th. The asset manager reported $2.27 earnings per share for the quarter. The business had revenue of $33.82 million for the quarter. Diamond Hill Investment Group had a return on equity of 18.46% and a net margin of 30.89%.

Diamond Hill Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.99%. Diamond Hill Investment Group’s dividend payout ratio is currently 41.84%.

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.