Rio Tinto Group (NYSE:RIO) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC reduced its stake in Rio Tinto Group (NYSE:RIO) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,769 shares of the mining company’s stock after selling 1,002 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Rio Tinto Group were worth $751,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RIO. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter worth $47,000. HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter worth $50,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth $59,000. Finally, FSC Wealth Advisors LLC raised its position in Rio Tinto Group by 150.0% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after buying an additional 600 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on RIO shares. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 0.6 %

NYSE:RIO opened at $61.84 on Wednesday. The firm has a market capitalization of $77.48 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $61.25 and its 200-day simple moving average is $62.88.

Rio Tinto Group Increases Dividend

The company also recently declared 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 is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Rio Tinto Group Company 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.