QRG Capital Management Inc. Buys 6,539 Shares of Rio Tinto Group (NYSE:RIO)

QRG Capital Management Inc. raised its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,762 shares of the mining company’s stock after purchasing an additional 6,539 shares during the period. QRG Capital Management Inc.’s holdings in Rio Tinto Group were worth $5,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after buying an additional 6,473 shares during the last quarter. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,345,000. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Northwest Bancshares Inc. purchased a new position in shares of Rio Tinto Group in the third quarter valued at $1,440,000. Finally, Barclays PLC increased its position in Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RIO. 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. Jefferies Financial Group lowered their price target 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. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Down 0.3 %

Shares of RIO opened at $60.51 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a market cap of $75.82 billion, a PE ratio of 9.38, a P/E/G ratio of 0.42 and a beta of 0.65. The business has a fifty day moving average of $60.77 and a 200 day moving average of $62.89.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group 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.