COLUMBUS, OH - Diamond Hill Investment Group Inc. (NASDAQ:DHIL) disclosed its latest asset management figures today, revealing a total of $30.582 billion in assets under management as of October 31, 2024. The breakdown by investment vehicle shows $18.332 billion in Diamond Hill Funds, $6.316 billion in separately managed accounts, $1.928 billion in collective investment trusts, and $4.006 billion in other pooled vehicles.
The company's investment strategies are diverse, with Large Cap strategies holding the majority of assets at $18.597 billion. Other notable categories include Short Duration Securitized at $3.344 billion and Core Fixed Income at $2.285 billion. The report also listed assets in Small Cap, Small-Mid Cap, Mid Cap, Large Cap Concentrated, Select, Long-Short, International, Micro Cap, Securitized Credit, and Long Duration Treasury strategies.
The figures were provided in a filing with the Securities and Exchange Commission by Diamond Hill Capital Management, Inc., a wholly owned subsidiary of Diamond Hill Investment Group, Inc. This information is based on a press release statement.
The detailed distribution of assets under management by strategy emphasizes the company's focus on Large Cap investments, which may be of interest to investors seeking insight into Diamond Hill's strategic preferences and market positioning.
Diamond Hill, headquartered in Columbus (WA:CLC), Ohio, has a long history in the financial industry, with previous names including Banc Stock Group Inc., Heartland Group of Companies Inc., and Heartland Financial (NASDAQ:HTLF) Group Inc. The company has undergone several name changes since its inception, reflecting its evolving business strategy and market focus.
In other recent news, Diamond Hill Investment Group reported assets under management (AUM) of $31.275 billion as of the end of September. This figure encompasses various investment vehicles and strategies, with the Large Cap strategy holding the largest share at $19.065 billion. The company also disclosed its AUM for August, revealing a total of $31.344 billion. This shows an increase from the AUM reported for July and June, which stood at approximately $30.4 billion and $29.291 billion, respectively.
In addition to these financial updates, the firm announced the appointment of Gordon Fowler to its Board of Directors. Fowler, who has an extensive career in the financial services industry, will serve on several committees.
InvestingPro Insights
Diamond Hill Investment Group's recent asset management disclosure aligns with several key financial metrics and insights from InvestingPro. The company's P/E ratio of 10.76 and adjusted P/E ratio of 8.59 for the last twelve months as of Q3 2024 suggest that the stock may be undervalued relative to its earnings, which could be attractive to value investors considering the company's $30.582 billion in assets under management.
InvestingPro Tips highlight that Diamond Hill has maintained dividend payments for 17 consecutive years, demonstrating a commitment to shareholder returns that complements its diverse investment strategy portfolio. This is further supported by a current dividend yield of 3.96%, which may appeal to income-focused investors.
Additionally, the company's profitability over the last twelve months and its high shareholder yield, as noted in the InvestingPro Tips, indicate financial health that aligns with its substantial assets under management across various strategies. These factors, combined with management's aggressive share buybacks, suggest a strong focus on creating shareholder value.
For investors seeking more comprehensive analysis, InvestingPro offers 5 additional tips that could provide further insight into Diamond Hill's financial position and market performance.
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