Western Pacific Wealth Management LP Makes New Investment in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL)

Western Pacific Wealth Management LP bought a new stake in shares of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the asset manager’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Diamond Hill Investment Group by 76.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 320 shares during the period. EntryPoint Capital LLC raised its position in shares of Diamond Hill Investment Group by 256.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,281 shares of the asset manager’s stock worth $197,000 after acquiring an additional 922 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Diamond Hill Investment Group in the 2nd quarter valued at approximately $214,000. HM Payson & Co. boosted its position in shares of Diamond Hill Investment Group by 286.9% during the first quarter. HM Payson & Co. now owns 1,416 shares of the asset manager’s stock valued at $218,000 after purchasing an additional 1,050 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Diamond Hill Investment Group in the second quarter worth $278,000. Institutional investors own 65.50% of the company’s stock.

Diamond Hill Investment Group Stock Performance

Shares of DHIL opened at $164.50 on Friday. Diamond Hill Investment Group, Inc. has a fifty-two week low of $135.44 and a fifty-two week high of $173.98. The firm’s 50-day simple moving average is $156.71 and its two-hundred day simple moving average is $153.03. The stock has a market cap of $452.38 million, a PE ratio of 9.31 and a beta of 1.00.

Diamond Hill Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, November 22nd. This represents a $6.00 annualized dividend and a dividend yield of 3.65%. Diamond Hill Investment Group’s payout ratio is presently 33.98%.

Insider Transactions at Diamond Hill Investment Group

In other Diamond Hill Investment Group news, Director James F. Laird, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $168.53, for a total transaction of $842,650.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $3,370,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director L’quentus Thomas sold 250 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $161.64, for a total value of $40,410.00. Following the completion of the sale, the director now directly owns 1,858 shares in the company, valued at $300,327.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James F. Laird, Jr. sold 5,000 shares of Diamond Hill Investment Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $168.53, for a total value of $842,650.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $3,370,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Diamond Hill Investment Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

About Diamond Hill Investment Group

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.