COLUMBUS, OH - Diamond Hill Investment Group Inc. (NASDAQ:DHIL), an investment advisory firm, disclosed its asset management figures for August 2024 today, revealing a total of $31.344 billion in assets under management (AUM).
The report, filed with the Securities and Exchange Commission, breaks down the AUM by investment vehicle and strategy. Diamond Hill Funds account for the largest share at approximately $18.362 billion. Separately managed accounts follow with $6.985 billion, collective investment trusts with $1.986 billion, and other pooled vehicles with $4.011 billion.
When categorized by investment strategy, Large Cap strategies dominate the firm's portfolio, managing $19.208 billion. Other strategies include Small-Mid Cap at $2.519 billion, Mid Cap at $1.120 billion, and Long-Short at $1.828 billion. The Short Duration Securitized Bond strategy oversees $3.090 billion, and Core Fixed Income has $2.224 billion in assets.
The firm also reported smaller figures for specialized strategies such as Small Cap, Large Cap Concentrated, Select, International, and Micro Cap, along with a Long Duration Treasury strategy. After accounting for investments in affiliated funds, the total AUM remains at $31.344 billion.
The AUM figures reflect the portfolio status as of August 31, 2024, as managed by Diamond Hill Capital Management, Inc., a wholly-owned subsidiary of Diamond Hill Investment Group.
In other recent news, Diamond Hill Investment Group reported significant developments. The company revealed its assets under management (AUM) for July 2024, totaling approximately $30.4 billion. The AUM is spread across various investment strategies, with a significant focus on Large Cap strategies amounting to $18.577 billion.
Other strategies include Small-Mid Cap, Mid Cap, and Long-Short strategies, alongside Short Duration Securitized Bond and Core Fixed Income strategies.
In another development, the company appointed Gordon Fowler to its Board of Directors. Fowler, with an extensive career in the financial services industry, will serve on several committees, bringing his wealth of experience to the board. This appointment aligns with Diamond Hill's commitment to long-term investment outcomes and expertise across various asset classes.
Moreover, Diamond Hill disclosed its AUM as of June 30, 2024, in a regulatory filing. The AUM reached $29.291 billion, distributed across various investment vehicles and strategies. These recent developments provide a snapshot of Diamond Hill's financial health and growth, underlining its position in the investment advisory market.
InvestingPro Insights
Diamond Hill Investment Group Inc. (NASDAQ:DHIL) has demonstrated a commitment to shareholder value through aggressive share buybacks, as highlighted in one of the InvestingPro Tips. This aligns with the company's solid financial performance, as evidenced by its profitability over the last twelve months. Another notable InvestingPro Tip is DHIL's consistent dividend payments over the past 17 years, a testament to its financial stability and reliability for income-focused investors.
From a data standpoint, Diamond Hill's market capitalization stands at a robust $426.93 million, with a price-to-earnings (P/E) ratio of 10.72, suggesting a reasonable valuation compared to industry peers. The company's revenue for the last twelve months as of Q2 2024 reached $142.33 million, with a gross profit margin of 42.38%, indicating strong profitability. Additionally, the firm's return on assets was an impressive 17.61% during the same period, further reinforcing the company's efficient use of its asset base to generate earnings.
For those interested in a deeper analysis, there are additional InvestingPro Tips available that provide more detailed insights into Diamond Hill's financial health and investment potential. These tips can be accessed through the dedicated InvestingPro platform.
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