Envestnet Portfolio Solutions Inc. Buys 1,093 Shares of Rio Tinto Group (NYSE:RIO)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,658 shares of the mining company’s stock after purchasing an additional 1,093 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Rio Tinto Group were worth $803,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jeppson Wealth Management LLC raised its stake in Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares during the period. Fisher Asset Management LLC raised its position in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after purchasing an additional 485,731 shares during the period. Barclays PLC lifted its holdings in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at $810,000. Finally, Palliser Capital UK Ltd increased its stake in Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.02 on Monday. The company has a market capitalization of $77.71 billion, a PE ratio of 9.61, a PEG 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. The stock’s 50 day moving average price is $61.90 and its 200-day moving average price is $62.88. 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 firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is 69.15%.

Wall Street Analyst Weigh In

RIO has been the subject of a number of analyst reports. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group decreased their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Three investment 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 company. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average price target 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.