Welcome to our dedicated page for Diamond Hill Invt Group news (Ticker: DHIL), a resource for investors and traders seeking the latest updates and insights on Diamond Hill Invt Group stock.
Diamond Hill Investment Group, Inc. (Nasdaq: DHIL) is a public asset management company whose consolidated revenues and net income come from investment advisory and fund administration services provided by its wholly owned subsidiary, Diamond Hill Capital Management, Inc. As an independent active asset manager with significant employee ownership, Diamond Hill emphasizes valuation-driven investment principles, a long-term perspective, capacity discipline and client alignment across U.S. and international equity, alternative long-short equity and fixed income strategies.
This news page aggregates company-issued updates and regulatory-related announcements about Diamond Hill. Readers can follow earnings releases that detail quarterly and annual financial results, including revenue from advisory and fund administration fees, operating margins, non-GAAP performance metrics and capital allocation decisions such as dividends and share repurchases. Regular AUM and AUA updates provide insight into asset flows across proprietary funds, separately managed accounts, collective investment trusts and other pooled vehicles, as well as shifts between equity and fixed income strategies.
Coverage also includes governance developments, such as board appointments of independent directors with extensive asset management experience and executive employment agreements for key leaders. In addition, this page features information related to the company’s announced Agreement and Plan of Merger with First Eagle Investment Management, LLC, under which a merger subsidiary will combine with Diamond Hill and Diamond Hill is expected to become a wholly owned subsidiary of First Eagle if closing conditions are met.
Investors and researchers can use this news feed to review how Diamond Hill communicates its investment philosophy, reports financial performance, discusses growth in specific strategies and describes significant corporate actions over time.
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.