Virtu Financial LLC Invests $2.02 Million in Rio Tinto Group (NYSE:RIO)

Virtu Financial LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 34,421 shares of the mining company's stock, valued at approximately $2,024,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Rio Tinto Group by 95.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 5,900 shares of the mining company's stock worth $347,000 after purchasing an additional 2,875 shares in the last quarter. Whittier Trust Co. grew its position in Rio Tinto Group by 38.6% in the fourth quarter. Whittier Trust Co. now owns 26,523 shares of the mining company's stock worth $1,560,000 after buying an additional 7,392 shares during the last quarter. Foresight Global Investors Inc. increased its holdings in shares of Rio Tinto Group by 97.8% in the fourth quarter. Foresight Global Investors Inc. now owns 31,645 shares of the mining company's stock valued at $1,861,000 after buying an additional 15,650 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at $382,000. Finally, Horizon Investments LLC boosted its stake in shares of Rio Tinto Group by 3.1% during the 4th quarter. Horizon Investments LLC now owns 9,903 shares of the mining company's stock worth $582,000 after acquiring an additional 295 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RIO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating on the stock. Jefferies Financial Group cut their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a 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 report on Saturday, February 22nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group has an average rating of "Moderate Buy" and an average price target of $73.00.

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Rio Tinto Group Stock Up 1.3 %

NYSE RIO traded up $0.80 during trading on Tuesday, reaching $62.97. 1,393,581 shares of the company's stock were exchanged, compared to its average volume of 2,754,348. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company's fifty day simple moving average is $61.96 and its 200-day simple moving average is $62.90. The firm has a market capitalization of $78.91 billion, a PE ratio of 9.76, a P/E/G ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a dividend of $2.23 per share. 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 currently 69.15%.

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.