Wells Fargo & Company MN Cuts Stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Wells Fargo & Company MN lowered its position in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHILFree Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,447 shares of the asset manager’s stock after selling 7,339 shares during the period. Wells Fargo & Company MN owned about 2.97% of Diamond Hill Investment Group worth $14,149,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DHIL. Allspring Global Investments Holdings LLC purchased a new position in Diamond Hill Investment Group in the fourth quarter valued at about $70,000. Sunbelt Securities Inc. grew its stake in Diamond Hill Investment Group by 1,000.0% in the third quarter. Sunbelt Securities Inc. now owns 550 shares of the asset manager’s stock valued at $93,000 after purchasing an additional 500 shares during the last quarter. Quantbot Technologies LP purchased a new position in Diamond Hill Investment Group in the third quarter valued at about $111,000. SG Americas Securities LLC purchased a new position in Diamond Hill Investment Group in the fourth quarter valued at about $123,000. Finally, PNC Financial Services Group Inc. grew its stake in Diamond Hill Investment Group by 849.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,101 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Diamond Hill Investment Group Price Performance

DHIL opened at $150.04 on Friday. The business’s 50-day moving average is $152.04 and its two-hundred day moving average is $156.63. Diamond Hill Investment Group, Inc. has a 1 year low of $144.35 and a 1 year high of $188.28. The firm has a market capitalization of $416.06 million, a PE ratio of 10.17 and a beta of 0.97.

Diamond Hill Investment Group (NASDAQ:DHILGet Free Report) last posted its earnings results on Wednesday, May 8th. The asset manager reported $3.00 earnings per share (EPS) for the quarter. The company had revenue of $36.30 million for the quarter. Diamond Hill Investment Group had a return on equity of 18.75% and a net margin of 30.60%.

Diamond Hill Investment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.00%. The ex-dividend date is Monday, June 3rd. Diamond Hill Investment Group’s dividend payout ratio is presently 40.65%.

Insiders Place Their Bets

In other Diamond Hill Investment Group news, Director James F. Laird, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $158.40, for a total value of $396,000.00. Following the completion of the sale, the director now owns 28,000 shares of the company’s stock, valued at $4,435,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Diamond Hill Investment Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamond Hill Investment Group (NASDAQ:DHIL)

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