AssuredPartners Investment Advisors LLC Invests $938,000 in Rio Tinto Group (NYSE:RIO)

AssuredPartners Investment Advisors LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,952 shares of the mining company's stock, valued at approximately $938,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after buying an additional 211 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $47,000. HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 4th quarter worth approximately $50,000. Finally, FSC Wealth Advisors LLC boosted its stake in Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company's stock valued at $59,000 after acquiring an additional 600 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reduced their price target 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. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $73.00.

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Rio Tinto Group Stock Performance

NYSE:RIO traded up $0.18 during midday trading on Tuesday, hitting $60.26. The company's stock had a trading volume of 932,914 shares, compared to its average volume of 2,832,562. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market cap of $75.57 billion, a P/E ratio of 9.33, a P/E/G ratio of 0.42 and a beta of 0.60. The firm's 50 day moving average is $62.09 and its 200-day moving average is $62.94.

Rio Tinto Group Increases Dividend

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

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.