Bragg Financial Advisors Inc Has $5.82 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Bragg Financial Advisors Inc cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,026 shares of the mining company’s stock after selling 488 shares during the period. Bragg Financial Advisors Inc’s holdings in Rio Tinto Group were worth $5,824,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after purchasing an additional 6,473 shares during the period. Barclays PLC lifted its holdings in shares of Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after buying an additional 232,539 shares in the last quarter. Marshall Financial Group LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $810,000. Schroder Investment Management Group grew its stake in shares of Rio Tinto Group by 3.2% in the fourth quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company’s stock valued at $1,890,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Palliser Capital UK Ltd increased its position in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 3.6 %

NYSE RIO opened at $56.83 on Monday. The business has a fifty day moving average price of $60.99 and a two-hundred day moving average price of $62.25. The stock has a market capitalization of $71.26 billion, a PE ratio of 8.81, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a dividend of $2.23 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

Analysts Set New Price Targets

A number of analysts have issued reports 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, March 27th. Morgan Stanley downgraded Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.