Merit Financial Group LLC Grows Stock Holdings in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Merit Financial Group LLC increased its position in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) by 42.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,272 shares of the asset manager’s stock after purchasing an additional 1,863 shares during the quarter. Merit Financial Group LLC owned 0.22% of Diamond Hill Investment Group worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Summit Global Investments raised its holdings in shares of Diamond Hill Investment Group by 24.0% during the fourth quarter. Summit Global Investments now owns 2,712 shares of the asset manager’s stock worth $449,000 after purchasing an additional 525 shares during the period. Victory Capital Management Inc. lifted its position in shares of Diamond Hill Investment Group by 12.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,125 shares of the asset manager’s stock worth $1,014,000 after purchasing an additional 675 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Diamond Hill Investment Group in the fourth quarter worth approximately $70,000. Abundance Wealth Counselors raised its position in Diamond Hill Investment Group by 19.7% during the fourth quarter. Abundance Wealth Counselors now owns 3,138 shares of the asset manager’s stock valued at $520,000 after acquiring an additional 517 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Diamond Hill Investment Group during the fourth quarter valued at approximately $1,239,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Diamond Hill Investment Group Stock Performance

Shares of DHIL stock opened at $151.90 on Monday. Diamond Hill Investment Group, Inc. has a 52-week low of $144.35 and a 52-week high of $188.28. The stock has a market cap of $431.40 million, a PE ratio of 10.59 and a beta of 0.97. The firm’s 50 day moving average price is $150.85 and its two-hundred day moving average price is $156.92.

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

Diamond Hill Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a dividend of $1.50 per share. The ex-dividend date was Friday, March 8th. This represents a $6.00 annualized dividend and a yield of 3.95%. Diamond Hill Investment Group’s dividend payout ratio (DPR) is presently 41.84%.

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.