Sei Investments Co. Raises Holdings in Rio Tinto Group (NYSE:RIO)

Sei Investments Co. boosted its stake in Rio Tinto Group (NYSE:RIO) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,344 shares of the mining company’s stock after purchasing an additional 4,656 shares during the period. Sei Investments Co.’s holdings in Rio Tinto Group were worth $22,897,000 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 RIO. Dorsey & Whitney Trust CO LLC increased its stake in shares of Rio Tinto Group by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after buying an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares during the period. Cohen Investment Advisors LLC raised its stake in shares of Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after acquiring an additional 198 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Rio Tinto Group by 2.0% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after purchasing an additional 200 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Rio Tinto Group by 12.2% in the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock worth $109,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com downgraded 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 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 report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Price Performance

RIO opened at $62.87 on Thursday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a market cap of $78.78 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. 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 stock has a fifty day simple moving average of $62.06 and a two-hundred day simple moving average of $62.92.

Rio Tinto Group Increases Dividend

The firm 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 boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

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.