Diamond Hill Invt Group Inc Stock Price, News & Analysis

Diamond Hill Capital Management has launched the Diamond Hill Large Cap Concentrated Fund, making its previously managed strategy since 2011 accessible as a mutual fund. Managed by Chuck Bath and Austin Hawley, the fund targets approximately 20 positions with market caps over $15 billion that are deemed undervalued. The firm currently oversees $30.6 billion in assets as of March 31, 2021. The fund comes with a risk disclosure highlighting the potential for greater value decline due to its concentrated portfolio.

Diamond Hill Investment Group (NASDAQ:DHIL) reported strong financial results for Q1 2021, with assets under management rising to $30.6 billion from $26.4 billion in Q4 2020 and $17.5 billion a year earlier. Revenue increased by 22% to $39.0 million, while net income attributable to common shareholders surged to $13.7 million, up from $1.5 million in Q1 2020. The company also announced a quarterly cash dividend of $1.00 per share to be paid on June 18, 2021. Operating profit margin adjusted was 43%, reflecting disciplined management and a commitment to existing clients.

Diamond Hill Capital Management announced that its Large Cap Strategy will close to most new investors effective March 31, 2021. This move allows the strategy to focus on long-term performance and maintain portfolio integrity. As of January 31, 2021, the strategy managed $15.0 billion in assets. Existing shareholders can still invest, but new separate accounts will have limited availability. The firm emphasizes its commitment to capacity management to ensure it can deliver value-added returns for clients.

Diamond Hill Investment Group reported its 2020 financial results, showing that assets under management rose to $26.4 billion from $23.4 billion due to net client inflows of $1.5 billion. However, revenue decreased to $126.4 million, down 7% year-over-year, and net income fell 30% to $38.7 million, influenced by lower revenue and market conditions. The operating profit margin improved slightly to 36%. The company declared a quarterly dividend of $1.00 per share. Looking ahead, Diamond Hill is shifting focus from high-yield strategies while expanding its investment offerings.

Diamond Hill Investment Group (Nasdaq: DHIL) announced a definitive agreement for Brandywine Global Investment Management to acquire its High Yield and Corporate Credit Funds. The transaction, expected to finalize in Q2 2021, follows a strategic review for the benefit of fund shareholders. Portfolio managers John McClain and Bill Zox will transition to Brandywine Global. CEO Heather Brilliant emphasized ongoing development of long-term investment strategies and announced plans for new alpha-generating strategies leveraging their expertise.

Diamond Hill Investment Group (NASDAQ:DHIL) reported a 7% decrease in net income for Q3 2020, totaling $10.6 million, with revenue declining by 10% to $31.2 million compared to the previous year. Assets under management rose to $22.3 billion from $20.6 billion in the prior quarter, although net inflows decreased to $98 million. Operating profit margin decreased to 32% from 37% year-over-year. A special cash dividend of $12.00 per share is set for December 4, 2020, with plans for a quarterly dividend starting in Q1 2021. The pandemic continues to affect operations and future projections.

Diamond Hill Capital Management has appointed Carlotta King as its new general counsel, effective immediately. King, who reports to Heather Brilliant, the company's president and CEO, brings over a decade of legal expertise from her previous role at the Managed Funds Association. Her qualifications include a juris doctor from Harvard Law School and a background in financial services law. As of August 31, 2020, Diamond Hill manages $22.7 billion in assets, emphasizing its commitment to investment excellence and client service.

Diamond Hill Investment Group (NASDAQ: DHIL) reported second-quarter 2020 results, highlighting significant challenges due to COVID-19. Assets under management rose to $20.6 billion, from $17.5 billion in Q1, yet down from $21.6 billion a year ago. Revenue dropped to $28.2 million, a 16% decline from $33.5 million in Q2 2019, attributed to a shift towards lower fee strategies. Net income was $12.2 million, down 8% year-over-year. Despite these struggles, the firm noted net inflows of $231 million, recovering from $417 million in outflows a year prior.

Diamond Hill Investment Group (NASDAQ: DHIL) will hold a management presentation and Q&A session for its 2020 Annual Meeting of Shareholders on Aug. 11, 2020, from 10 a.m. to 11:30 a.m. ET, via webcast due to COVID-19. Shareholders can submit questions by July 31. The company conducted the business portion of its meeting on April 28. As of June 30, 2020, Diamond Hill manages $20.6 billion in assets and employs a disciplined intrinsic value investment approach. Details on the webcast will be available by July 17 on their investor relations website.