MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Position in Rio Tinto Group (NYSE:RIO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 19.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 797,985 shares of the mining company’s stock after buying an additional 132,590 shares during the quarter. Rio Tinto Group accounts for approximately 2.3% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 7th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.06% of Rio Tinto Group worth $59,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RIO. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Rio Tinto Group in the third quarter worth about $27,000. First Manhattan Co. grew its stake in shares of Rio Tinto Group by 555.4% in the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after purchasing an additional 361 shares during the last quarter. SouthState Corp bought a new stake in shares of Rio Tinto Group in the third quarter worth about $32,000. Financial Management Professionals Inc. grew its stake in shares of Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter worth about $47,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded up $0.28 during trading on Friday, hitting $63.74. 3,254,646 shares of the company’s stock traded hands, compared to its average volume of 3,018,145. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09. The business has a 50-day simple moving average of $65.99 and a 200-day simple moving average of $66.87.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be issued a $2.58 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Thursday, March 7th. This represents a yield of 6.6%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RIO shares. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. BNP Paribas raised Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 5th. Finally, The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

About Rio Tinto Group

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.