AssuredPartners Investment Advisors LLC Purchases Shares of 15,952 Rio Tinto Group (NYSE:RIO)

AssuredPartners Investment Advisors LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,952 shares of the mining company’s stock, valued at approximately $938,000.

Several other institutional investors have also recently made changes to their positions in RIO. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% in the fourth 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 in the last quarter. Rakuten Securities Inc. grew its position in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group in the 4th quarter worth about $50,000. Finally, FSC Wealth Advisors LLC boosted 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 worth $59,000 after purchasing an additional 600 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rio Tinto Group Trading Down 0.8 %

Shares of Rio Tinto Group stock opened at $62.37 on Friday. 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 stock’s 50 day simple moving average is $62.11 and its 200-day simple moving average is $62.91. The stock has a market cap of $78.21 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.42 and a beta of 0.60. 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 business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 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.