Thrivent Financial for Lutherans Has $1.22 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Thrivent Financial for Lutherans trimmed its position in Rio Tinto Group (NYSE:RIO - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,811 shares of the mining company's stock after selling 10,464 shares during the quarter. Thrivent Financial for Lutherans' holdings in Rio Tinto Group were worth $1,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cadence Wealth Management LLC lifted its holdings in shares of Rio Tinto Group by 4.1% during the fourth quarter. Cadence Wealth Management LLC now owns 12,201 shares of the mining company's stock worth $718,000 after buying an additional 481 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of Rio Tinto Group by 49.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 24,366 shares of the mining company's stock valued at $1,433,000 after buying an additional 8,100 shares during the period. Signaturefd LLC grew its position in Rio Tinto Group by 13.9% during the fourth quarter. Signaturefd LLC now owns 22,436 shares of the mining company's stock worth $1,319,000 after buying an additional 2,734 shares in the last quarter. Parallel Advisors LLC increased its stake in Rio Tinto Group by 44.5% during the 4th quarter. Parallel Advisors LLC now owns 6,509 shares of the mining company's stock worth $383,000 after acquiring an additional 2,006 shares during the period. Finally, Gallacher Capital Management LLC raised its holdings in Rio Tinto Group by 4.1% in the 4th quarter. Gallacher Capital Management LLC now owns 5,539 shares of the mining company's stock valued at $326,000 after acquiring an additional 220 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

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Rio Tinto Group Price Performance

Shares of NYSE RIO traded down $1.44 during midday trading on Thursday, reaching $58.47. 4,233,970 shares of the company were exchanged, compared to its average volume of 2,842,345. The stock's 50-day moving average price is $62.04 and its 200-day moving average price is $62.91. The stock has a market cap of $73.31 billion, a P/E ratio of 9.06, a PEG ratio of 0.42 and a beta of 0.60. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This represents a dividend 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 presently 69.15%.

Analyst Ratings Changes

A number of brokerages recently commented on RIO. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating on the stock. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Finally, Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Three equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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.