PNC Financial Services Group Inc. Decreases Holdings in Diamond Hill Investment Group, Inc. (DHIL)

PNC Financial Services Group Inc. reduced its stake in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,251 shares of the asset manager’s stock after selling 695 shares during the period. PNC Financial Services Group Inc. owned 4.40% of Diamond Hill Investment Group worth $28,564,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in shares of Diamond Hill Investment Group in the second quarter valued at about $279,000. Principal Financial Group Inc. acquired a new position in shares of Diamond Hill Investment Group in the second quarter valued at about $297,000. SG Americas Securities LLC acquired a new position in shares of Diamond Hill Investment Group in the second quarter valued at about $446,000. Tdam USA Inc. grew its stake in shares of Diamond Hill Investment Group by 30.6% in the second quarter. Tdam USA Inc. now owns 5,117 shares of the asset manager’s stock valued at $1,020,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Diamond Hill Investment Group by 4.8% in the second quarter. Victory Capital Management Inc. now owns 5,462 shares of the asset manager’s stock valued at $1,089,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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Separately, BidaskClub downgraded shares of Diamond Hill Investment Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.

Diamond Hill Investment Group, Inc. (DHIL) traded up 0.44% during trading on Tuesday, hitting $201.35. 157 shares of the company traded hands. Diamond Hill Investment Group, Inc. has a 12-month low of $170.00 and a 12-month high of $217.68. The company has a market capitalization of $655.80 million, a P/E ratio of 13.18 and a beta of 0.95. The stock has a 50 day moving average price of $194.62 and a 200 day moving average price of $197.07.

Diamond Hill Investment Group (NASDAQ:DHIL) last posted its earnings results on Wednesday, July 26th. The asset manager reported $3.66 earnings per share for the quarter. The business had revenue of $35.54 million during the quarter. Diamond Hill Investment Group had a return on equity of 34.36% and a net margin of 36.52%. On average, equities analysts anticipate that Diamond Hill Investment Group, Inc. will post $3.28 earnings per share for the current year.

About Diamond Hill Investment Group

Diamond Hill Investment Group, Inc provides investment advisory and fund administration services. The Company’s subsidiaries include Diamond Hill Capital Management, Inc (DHCM), Beacon Hill Fund Services, Inc (BHFS) and BHIL Distributors, Inc (BHIL). The Company’s primary objective is to fulfill its fiduciary duty to clients.

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

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