Captrust Financial Advisors Sells 18,014 Shares of Rio Tinto Group (NYSE:RIO)

Captrust Financial Advisors lessened its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,960 shares of the mining company's stock after selling 18,014 shares during the period. Captrust Financial Advisors' holdings in Rio Tinto Group were worth $2,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cary Street Partners Financial LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter worth $243,000. Balyasny Asset Management L.P. bought a new stake in shares of Rio Tinto Group in the fourth quarter worth $417,000. Banque Transatlantique SA bought a new stake in shares of Rio Tinto Group in the fourth quarter worth $70,000. Bayesian Capital Management LP increased its stake in shares of Rio Tinto Group by 173.8% in the fourth quarter. Bayesian Capital Management LP now owns 51,674 shares of the mining company's stock worth $3,039,000 after buying an additional 32,800 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Rio Tinto Group by 169.4% in the fourth quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company's stock worth $36,428,000 after buying an additional 389,531 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Price Performance

Rio Tinto Group stock traded down $0.23 during midday trading on Wednesday, hitting $62.04. The company's stock had a trading volume of 1,844,511 shares, compared to its average volume of 2,857,676. 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 $59.68 and its 200-day moving average price is $61.08. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $74.24. The company has a market capitalization of $77.80 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were given a $2.23 dividend. The ex-dividend date of this dividend was 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 payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RIO shares. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Finally, Barclays reissued an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

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.