Moran Wealth Management LLC Sells 21,588 Shares of Rio Tinto Group (NYSE:RIO)

Moran Wealth Management LLC lowered its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 18.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,246 shares of the mining company's stock after selling 21,588 shares during the quarter. Moran Wealth Management LLC's holdings in Rio Tinto Group were worth $5,660,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RIO. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 valued at $29,000 after purchasing an additional 195 shares during the period. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group during the fourth quarter valued at about $47,000. HHM Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter valued at about $50,000. FSC Wealth Advisors LLC lifted its position in shares of 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. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Rio Tinto Group in the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Price Performance

NYSE RIO traded up $1.88 during trading on Friday, hitting $63.08. 2,725,584 shares of the stock traded hands, compared to its average volume of 3,269,111. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $79.04 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The firm has a 50-day simple moving average of $61.34 and a 200-day simple moving average of $62.85.

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Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group decreased their target price 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. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.