Sowell Financial Services LLC Has $1.17 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Sowell Financial Services LLC increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,841 shares of the mining company’s stock after purchasing an additional 247 shares during the quarter. Sowell Financial Services LLC’s holdings in Rio Tinto Group were worth $1,167,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. grew 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 worth $29,000 after purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $47,000. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $50,000. FSC Wealth Advisors LLC increased its stake in Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock worth $59,000 after acquiring an additional 600 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Rio Tinto Group in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

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

Rio Tinto Group Price Performance

Shares of RIO stock opened at $62.14 on Tuesday. The business has a fifty day simple moving average of $61.19 and a 200 day simple moving average of $62.89. The company has a market cap of $77.86 billion, a P/E ratio of 9.63, a P/E/G 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 twelve month low of $57.85 and a twelve month high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is 69.15%.

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.