Quintet Private Bank Europe S.A. Has $118,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

Quintet Private Bank Europe S.A. trimmed its holdings in shares of Rio Tinto Group (NYSE:RIO) by 52.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the mining company’s stock after selling 2,165 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Rio Tinto Group were worth $118,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Rio Tinto Group by 63.9% in 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 last quarter. Hara Capital LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $53,000. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group during the 4th quarter worth about $47,000. Nisa Investment Advisors LLC grew its stake in Rio Tinto Group by 49.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after buying an additional 270 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in Rio Tinto Group in the 4th quarter valued at about $50,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 0.8 %

Shares of RIO stock opened at $61.04 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market cap of $76.49 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The stock has a 50 day simple moving average of $60.81 and a 200 day simple moving average of $62.87. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders 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 is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. 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 report on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company 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.