Corient Private Wealth LLC Sells 3,282 Shares of Rio Tinto Group (NYSE:RIO)

Corient Private Wealth LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 6.6% during the 4th quarter, HoldingsChannel reports. The fund 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after acquiring an additional 76,368 shares in the last quarter. FMR LLC lifted its stake in Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after purchasing an additional 358,630 shares during the period. Todd Asset Management LLC boosted its holdings in Rio Tinto Group by 1.0% during the fourth quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock valued at $62,820,000 after purchasing an additional 10,062 shares in the last quarter. Palliser Capital UK Ltd grew its stake 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 valued at $58,188,000 after purchasing an additional 674,117 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Rio Tinto Group by 11.2% in the 4th quarter. Natixis Advisors LLC now owns 763,952 shares of the mining company’s stock worth $44,928,000 after buying an additional 77,130 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 1.4 %

Shares of NYSE RIO opened at $62.02 on Monday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The firm’s 50-day simple moving average is $61.90 and its 200 day simple moving average is $62.88. 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 $77.71 billion, a price-to-earnings ratio of 9.61, 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. Stockholders of record on Friday, March 7th will be given a dividend of $2.23 per share. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Analysts Set New Price Targets

A number of analysts have weighed in on RIO shares. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.