Commonwealth Equity Services LLC Has $11.41 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Commonwealth Equity Services LLC reduced its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 193,950 shares of the mining company's stock after selling 18,249 shares during the quarter. Commonwealth Equity Services LLC's holdings in Rio Tinto Group were worth $11,406,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. lifted its holdings in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after acquiring an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Rio Tinto Group in the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the fourth quarter valued at approximately $50,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Rio Tinto Group during the fourth quarter worth $59,000. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Trading Down 1.4 %

Shares of RIO traded down $0.91 during mid-day trading on Friday, reaching $62.02. 3,703,869 shares of the company were exchanged, compared to its average volume of 2,756,515. The business has a 50 day simple moving average of $61.90 and a two-hundred day simple moving average of $62.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The stock has a market capitalization of $77.71 billion, a PE ratio of 9.61, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.

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Rio Tinto Group Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on RIO shares. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday. They set an "overweight" rating on the stock. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.