Envestnet Asset Management Inc. Has $33.99 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Envestnet Asset Management Inc. decreased its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 9.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 577,875 shares of the mining company's stock after selling 62,868 shares during the period. Envestnet Asset Management Inc.'s holdings in Rio Tinto Group were worth $33,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its stake in Rio Tinto Group by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock valued at $1,035,319,000 after buying an additional 76,368 shares during the period. Franklin Resources Inc. increased its stake in shares of Rio Tinto Group by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock valued at $300,841,000 after acquiring an additional 70,131 shares during the last quarter. Todd Asset Management LLC raised its position in shares of Rio Tinto Group by 1.0% in the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company's stock valued at $62,820,000 after acquiring an additional 10,062 shares during the period. Palliser Capital UK Ltd boosted its stake in Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock worth $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in Rio Tinto Group by 11.2% during the fourth quarter. Natixis Advisors LLC now owns 763,952 shares of the mining company's stock valued at $44,928,000 after purchasing an additional 77,130 shares during the period. Institutional investors own 19.33% of the company's stock.

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Rio Tinto Group Stock Up 0.3 %

NYSE:RIO traded up $0.15 during trading hours on Tuesday, reaching $57.16. 2,807,116 shares of the stock were exchanged, compared to its average volume of 2,881,329. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24. The stock has a market cap of $71.67 billion, a PE ratio of 8.86, a PEG ratio of 0.42 and a beta of 0.66. The firm has a 50 day moving average of $60.90 and a 200 day moving average of $62.15.

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 given a $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a yield of 7%. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio (DPR) is 69.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.