Rio Tinto Group (NYSE:RIO) Holdings Trimmed by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in Rio Tinto Group (NYSE:RIO) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,305 shares of the mining company’s stock after selling 3,282 shares during the quarter. Corient Private Wealth LLC’s holdings in Rio Tinto Group were worth $2,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Palliser Capital UK Ltd raised its holdings in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Rio Tinto Group in the fourth quarter worth approximately $29,606,000. Fisher Asset Management LLC increased its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares in the last quarter. SPX Gestao de Recursos Ltda lifted 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 last quarter. Finally, FMR LLC boosted its stake 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 worth $98,340,000 after acquiring an additional 358,630 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent analyst reports. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, Jefferies Financial Group reduced their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $62.02 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The company has a market capitalization of $77.71 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.42 and a beta of 0.60. The business’s 50-day moving average is $61.90 and its 200-day moving average is $62.88. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given 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 yield of 7%. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

About Rio Tinto Group

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.