Rio Tinto Group (NYSE:RIO) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 18.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,246 shares of the mining company’s stock after selling 21,588 shares during the period. Moran Wealth Management LLC’s holdings in Rio Tinto Group were worth $5,660,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RIO. Palliser Capital UK Ltd grew its position in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $29,606,000. Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the period. SPX Gestao de Recursos Ltda grew its position in shares of Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares during the period. Finally, FMR LLC grew its position in shares of Rio Tinto Group by 35.1% during the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after acquiring an additional 358,630 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 0.3 %

Shares of Rio Tinto Group stock opened at $62.14 on Tuesday. The firm has a market capitalization of $77.86 billion, a PE ratio of 9.63, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The firm’s 50-day moving average price is $61.19 and its 200 day moving average price is $62.89. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analyst Ratings Changes

RIO has been the topic of a number of analyst reports. Jefferies Financial Group dropped their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.