Net Worth Advisory Group Sells 1,296 Shares of Rio Tinto Group (NYSE:RIO)

Net Worth Advisory Group reduced its position in Rio Tinto Group (NYSE:RIO) by 11.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,233 shares of the mining company’s stock after selling 1,296 shares during the period. Net Worth Advisory Group’s holdings in Rio Tinto Group were worth $602,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Rio Tinto Group by 63.9% in the 4th 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. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $50,000. FSC Wealth Advisors LLC boosted its holdings in shares of Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after buying an additional 600 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $59,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

RIO opened at $62.14 on Tuesday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $77.86 billion, a PE ratio of 9.63, a P/E/G ratio of 0.42 and a beta of 0.60. The firm has a 50 day moving average of $61.19 and a two-hundred day moving average of $62.89.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Analysts Set New Price Targets

A number of analysts recently commented on RIO shares. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Jefferies Financial Group lowered their target price on shares of 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. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.