MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Stock Position in Rio Tinto Group (NYSE:RIO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 13.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,582 shares of the mining company's stock after selling 130,277 shares during the period. Rio Tinto Group accounts for 1.9% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings, making the stock its 17th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned approximately 0.07% of Rio Tinto Group worth $55,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the first quarter worth about $26,000. Geneos Wealth Management Inc. lifted its holdings in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock worth $26,000 after purchasing an additional 148 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group during the first quarter worth $29,000. LifeSteps Financial Inc. acquired a new stake in Rio Tinto Group in the first quarter valued at $33,000. Finally, Centerpoint Advisors LLC raised its position in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock worth $35,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Down 0.1 %

Shares of NYSE:RIO traded down $0.05 during midday trading on Friday, hitting $63.27. 2,238,296 shares of the company's stock were exchanged, compared to its average volume of 2,719,824. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.80 and a 12 month high of $75.09. The stock has a 50 day moving average price of $64.67 and a 200-day moving average price of $66.09.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be paid a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RIO shares. Berenberg Bank downgraded Rio Tinto Group from a "buy" rating to a "hold" rating in a research report on Thursday, June 27th. HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Citigroup lowered shares of Rio Tinto Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 20th. Finally, Hsbc Global Res upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

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.