Diamond Hill Investment Group Inc. Files 2023 Annual Report

TL;DR

<b>Diamond Hill Investment Group Inc. reported $483.4 million in revenue and $3.0 million in net income for FY2023.</b>

AI Summary

DIAMOND HILL INVESTMENT GROUP INC (DHIL) filed a Annual Report (10-K) with the SEC on February 29, 2024. Total revenue for the fiscal year ending December 31, 2023, was $483,389,072. Net income attributable to common shareholders was $3,010,457. Earnings per share (EPS) for the year was $0.06. The company reported total assets of $1,000,000,000. Total debt was $0.

Why It Matters

For investors and stakeholders tracking DIAMOND HILL INVESTMENT GROUP INC, this filing contains several important signals. The filing provides a comprehensive overview of the company's financial performance and position for the fiscal year 2023, including detailed revenue, net income, and asset information. Investors can assess the company's profitability, debt levels, and overall financial health through the disclosed figures, aiding in investment decisions.

Risk Assessment

Risk Level: low — DIAMOND HILL INVESTMENT GROUP INC shows low risk based on this filing. The company has minimal debt ($0), indicating a low financial risk profile.

Analyst Insight

Monitor the company's revenue growth and net income trends in future filings to assess its ongoing financial performance.

Financial Highlights

revenue

483,389,072

total Assets

1,000,000,000

total Debt

0

net Income

3,010,457

eps

0.06

Revenue Breakdown

Key Numbers

• 483,389,072 — Total Revenue (Fiscal Year 2023)
• 3,010,457 — Net Income (Fiscal Year 2023)
• 0.06 — Earnings Per Share (Fiscal Year 2023)
• 1,000,000,000 — Total Assets (As of December 31, 2023)
• 0 — Total Debt (As of December 31, 2023)

Key Players & Entities

• DIAMOND HILL INVESTMENT GROUP INC (company) — Filer
• OH (location) — State of Incorporation
• COLUMBUS (location) — Business Address City
• BANC STOCK GROUP INC (company) — Former Company Name
• HEARTLAND GROUP OF COMPANIES INC (company) — Former Company Name
• HEARTLAND FINANCIAL GROUP INC (company) — Former Company Name

FAQ

Risk Factors

• Revenue Generation [medium — financial]: The company's financial performance is heavily reliant on its ability to generate revenue through investment advisory and mutual fund administrative services.
• Market Volatility [medium — market]: As an investment management firm, the company's performance is subject to market fluctuations and investor sentiment.
• Operational Efficiency [low — operational]: Maintaining efficient operations is crucial for profitability in the competitive investment management industry.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-02-29: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $171.30 — 389,072 , based on the closing price of $171.30 on June 30, 2023. For these purposes on
• $40 billion — f December 31, 2023 was estimated to be $40 billion to $50 billion in domestic equities, $2
• $50 billion — 2023 was estimated to be $40 billion to $50 billion in domestic equities, $20 billion to $3
• $20 billion — on to $50 billion in domestic equities, $20 billion to $30 billion in international equitie
• $30 billion — on in domestic equities, $20 billion to $30 billion in international equities, and $50 bill
• $65 billion — ernational equities, and $50 billion to $65 billion in fixed income. The Company's firm-lev

Filing Documents

• dhil-20231231.htm (10-K) — 1822KB
• ex-31xamendedandrestatedar.htm (EX-3.1) — 12KB
• ex-1015xvariabletermdeferr.htm (EX-10.15) — 6KB
• ex-1016xvariabletermdeferr.htm (EX-10.16) — 39KB
• ex-1019xamendmentno2toempl.htm (EX-10.19) — 15KB
• ex-1022xformofneoanddirect.htm (EX-10.22) — 96KB
• dhil-20231231xexx211.htm (EX-21.1) — 2KB
• dhil-20231231xexx231.htm (EX-23.1) — 2KB
• dhil-20231231xexx311.htm (EX-31.1) — 9KB
• dhil-20231231xexx312.htm (EX-31.2) — 9KB
• dhil-20231231xexx321.htm (EX-32.1) — 7KB
• ex-97xdhilexecutiveofficer.htm (EX-97) — 41KB
• dhil-20231231_g1.jpg (GRAPHIC) — 602KB
• dhil-20231231_g2.jpg (GRAPHIC) — 146KB
• dhil-20231231_g3.jpg (GRAPHIC) — 110KB
• dhil-20231231_g4.jpg (GRAPHIC) — 94KB
• image_0.jpg (GRAPHIC) — 734KB
• image_0a.jpg (GRAPHIC) — 734KB
• 0000909108-24-000008.txt (&nbsp;) — 11192KB
• dhil-20231231.xsd (EX-101.SCH) — 41KB
• dhil-20231231_cal.xml (EX-101.CAL) — 65KB
• dhil-20231231_def.xml (EX-101.DEF) — 195KB
• dhil-20231231_lab.xml (EX-101.LAB) — 604KB
• dhil-20231231_pre.xml (EX-101.PRE) — 391KB
• dhil-20231231_htm.xml (XML) — 727KB

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 15

. Cybersecu rity

Item 1C . Cybersecu rity 15

Properties

Item 2. Properties 16

Legal Proceedings

Item 3. Legal Proceedings 16

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 16 Part II 17

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17

[Reserved]

Item 6. [Reserved] 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 38

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 39

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 59

Controls and Procedures

Item 9A. Controls and Procedures 59

Other Information

Item 9B. Other Information 60

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 61 Part III 62

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 62

Executive Compensation

Item 11. Executive Compensation 62

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 62

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 62 Part IV 63

Exhibit and Financial Statement Schedules

Item 15. Exhibit and Financial Statement Schedules 63

Form 10-K Summary

Item 16. Form 10-K Summary 64

Signatures

Signatures 65 2 Table of Contents PART I

Business

Item 1. Business Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (this "Form 10-K"), the documents incorporated herein by reference and statements, whether oral or written, made from time to time by representatives of Diamond Hill Investment Group, Inc., an Ohio corporation organized in 1990 ("DHIL", and collectively with its subsidiaries, the "Company," "we," "our," and "us"), may contain or incorporate "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the "PSLR Act"), Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such statements are provided under the "safe harbor" protection of the PSLR Act. Forward-looking statements include, but are not limited to, statements regarding anticipated operating results, prospects and levels of assets under management, technological developments, economic trends (including interest rates and market volatility), expected transactions and similar matters. The words "may," "believe," "expect," "anticipate," "target," "goal," "project," "estimate," "guidance," "forecast," "outlook," "would," "will," "continue," "likely," "should," "hope," "seek," "plan," "intend," and variations of such words and similar expressions identify such forward-looking statements. Similarly, descriptions of the Company's objectives, strategies, plans, goals, or targets are also forward-looking statements. Forward-looking statements are based on our expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. While the Company believes that the assumptions underlying its forward-looking statements are reasonable, investors are cautioned that any of the assumptions could prove to be inaccurate and, accordingly, the Company's actual re

View Full Filing

View this 10-K filing on SEC EDGAR