United Capital Financial Advisers LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 67.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,682 shares of the mining company’s stock after purchasing an additional 2,279 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Rio Tinto Group were worth $427,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in RIO. Trustcore Financial Services LLC increased its position in Rio Tinto Group by 1,280.0% during the 4th quarter. Trustcore Financial Services LLC now owns 345 shares of the mining company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Glassman Wealth Services increased its position in Rio Tinto Group by 61.8% during the 4th quarter. Glassman Wealth Services now owns 419 shares of the mining company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Pittenger & Anderson Inc. acquired a new stake in Rio Tinto Group during the 4th quarter valued at approximately $37,000. AXA S.A. acquired a new stake in Rio Tinto Group during the 3rd quarter valued at approximately $49,000. Finally, Optimum Investment Advisors acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth approximately $49,000. 7.53% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Societe Generale raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Thursday, March 18th. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 31st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Rio Tinto Group in a research report on Wednesday, March 24th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto Group in a report on Friday, March 5th. Finally, Barclays restated an “equal weight” rating on shares of Rio Tinto Group in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.00.
The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 15th. Stockholders of record on Friday, March 5th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, March 4th. This represents a dividend yield of 4.4%. Rio Tinto Group’s dividend payout ratio (DPR) is presently 97.63%.
Rio Tinto Group Profile
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminum smelting; bauxite mining; alumina refining; and ilmenite, rutile, and zircon mining, as well as provision of gypsum.
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