Quintet Private Bank Europe S.A. Has $118,000 Holdings in Rio Tinto Group (NYSE:RIO)

Quintet Private Bank Europe S.A. trimmed its stake in Rio Tinto Group (NYSE:RIO) by 52.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,000 shares of the mining company’s stock after selling 2,165 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Rio Tinto Group were worth $118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LGT Group Foundation acquired a new stake in Rio Tinto Group in the fourth quarter valued at $342,000. SBI Securities Co. Ltd. acquired a new stake in Rio Tinto Group during the 4th quarter worth about $2,468,000. Jones Financial Companies Lllp grew its holdings in Rio Tinto Group by 390.7% during the 4th quarter. Jones Financial Companies Lllp now owns 69,632 shares of the mining company’s stock worth $4,095,000 after acquiring an additional 55,442 shares during the period. SRS Capital Advisors Inc. grew its holdings in Rio Tinto Group by 15.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,072 shares of the mining company’s stock worth $122,000 after acquiring an additional 280 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Rio Tinto Group during the 4th quarter worth about $81,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the subject of a number of recent analyst reports. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group cut their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

RIO stock opened at $61.04 on Tuesday. The stock has a market capitalization of $76.49 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The company’s 50-day moving average is $60.81 and its 200-day moving average is $62.87. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a $2.23 dividend. This is a boost 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 (DPR) 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.