AssuredPartners Investment Advisors LLC Takes Position in Rio Tinto Group (NYSE:RIO)

AssuredPartners Investment Advisors LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 15,952 shares of the mining company’s stock, valued at approximately $938,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its stake in Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after acquiring an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position 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 worth $29,000 after purchasing an additional 195 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth about $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group in the 4th quarter valued at about $50,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Rio Tinto Group in the fourth quarter valued at about $59,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $62.37 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a fifty day simple moving average of $62.11 and a two-hundred day simple moving average of $62.91. 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 company has a market cap of $78.21 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a dividend of $2.23 per share. This represents a yield of 7%. This is a boost 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 payout ratio is presently 69.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.