Rio Tinto Group (NYSE:RIO) Shares Acquired by RiverFront Investment Group LLC

RiverFront Investment Group LLC increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,659 shares of the mining company’s stock after buying an additional 6,121 shares during the period. RiverFront Investment Group LLC’s holdings in Rio Tinto Group were worth $6,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after purchasing an additional 6,748,799 shares in the last quarter. Morgan Stanley lifted its holdings in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Rio Tinto Group by 5.9% in the 3rd quarter. Acadian Asset Management LLC now owns 2,903,093 shares of the mining company’s stock valued at $184,721,000 after purchasing an additional 161,532 shares in the last quarter. Northern Trust Corp lifted its holdings in Rio Tinto Group by 0.9% in the 3rd quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock valued at $120,485,000 after purchasing an additional 17,401 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Rio Tinto Group by 33.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock valued at $61,437,000 after purchasing an additional 242,313 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent research reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Up 0.7 %

Shares of NYSE:RIO traded up $0.46 during midday trading on Friday, reaching $68.24. 3,019,687 shares of the company’s stock were exchanged, compared to its average volume of 3,306,954. The firm’s 50 day simple moving average is $64.86 and its two-hundred day simple moving average is $67.30. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were given a dividend of $2.58 per share. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th.

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.