Sei Investments Co. Acquires 4,656 Shares of Rio Tinto Group (NYSE:RIO)

Sei Investments Co. raised its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389,344 shares of the mining company's stock after purchasing an additional 4,656 shares during the quarter. Sei Investments Co.'s holdings in Rio Tinto Group were worth $22,897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RIO. Rakuten Securities Inc. raised its position 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 valued at $29,000 after purchasing an additional 211 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Rio Tinto Group by 63.9% in the fourth 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 in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the 4th quarter worth about $50,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Rio Tinto Group in the 4th quarter worth about $59,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

NYSE:RIO traded down $1.35 during mid-day trading on Friday, reaching $60.99. The stock had a trading volume of 4,251,667 shares, compared to its average volume of 2,832,339. The stock has a market capitalization of $76.48 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.42 and a beta of 0.60. The firm has a 50 day moving average price of $62.11 and a two-hundred day moving average price of $62.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24.

Remove Ads

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders 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. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RIO shares. Jefferies Financial Group lowered their price target 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. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of "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.