Rio Tinto Group (NYSE:RIO) Shares Sold by Aviso Financial Inc.

Aviso Financial Inc. cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 19,020 shares of the mining company’s stock after selling 170 shares during the period. Aviso Financial Inc.’s holdings in Rio Tinto Group were worth $1,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rakuten Securities Inc. lifted its position in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after acquiring an additional 211 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Rio Tinto Group by 5.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 75,670 shares of the mining company’s stock worth $4,450,000 after acquiring an additional 3,874 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Rio Tinto Group by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,238 shares of the mining company’s stock worth $190,000 after acquiring an additional 948 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Rio Tinto Group by 8.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 10,426 shares of the mining company’s stock worth $613,000 after acquiring an additional 816 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in Rio Tinto Group by 1.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 17,580 shares of the mining company’s stock worth $1,034,000 after acquiring an additional 250 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

RIO stock opened at $63.08 on Friday. 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 cap of $79.04 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The stock’s 50 day simple moving average is $61.43 and its 200 day simple moving average is $62.85.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.00.

About Rio Tinto Group

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.