AssuredPartners Investment Advisors LLC Purchases Rio Tinto Group Shares

AssuredPartners Investment Advisors LLC has made a significant investment by acquiring a new position in Rio Tinto Group (NYSE:RIO) during the fourth quarter. According to the latest disclosure with the SEC, the firm purchased 15,952 shares of the mining giant's stock, which is valued at approximately $938,000.

In addition to AssuredPartners, several other institutional investors have also adjusted their stakes in Rio Tinto Group. Thurston Springer Miller Herd & Titak Inc. has increased its holdings by 63.9% during the same period, now owning 500 shares valued at around $29,000 after acquiring an additional 195 shares. Likewise, Rakuten Securities Inc. boosted their position by 74.8%, now holding 493 shares worth approximately $29,000 after buying an extra 211 shares. Other firms such as Golden State Wealth Management LLC and HHM Wealth Advisors LLC have also purchased new positions, estimated at about $47,000 and $50,000 respectively. Furthermore, FSC Wealth Advisors LLC has raised its stake by 150.0%, now holding 1,000 shares valued at $59,000 after adding 600 shares in the last quarter. In total, about 19.33% of the company’s stock is owned by hedge funds and other institutional investors.

Recent Analyst Ratings

Various research analysts have recently evaluated Rio Tinto Group’s stock performance. Jefferies Financial Group has downgraded their target price from $83.00 to $73.00 while maintaining a "buy" rating on January 6th. Meanwhile, Clarkson Capital has upgraded shares to a "strong-buy" rating as of February 28th. On the other hand, StockNews.com decreased their rating from "strong-buy" to "buy" on February 22nd. As a note of interest, JPMorgan Chase & Co. initiated coverage on Rio Tinto Group, giving it an "overweight" rating. Among analysts, three have rated the stock as a hold, five as a buy, and two as a strong buy, resulting in a consensus rating of "Moderate Buy" with an average price target of $73.00.

Current Trading Conditions

As of recent trading, shares of Rio Tinto Group opened at $62.37, representing a slight decrease of 0.8%. The company’s financial ratios indicate a debt-to-equity ratio of 0.23, a current ratio of 1.63, and a quick ratio of 1.16. Moreover, the stock’s 50-day simple moving average stands at $62.11, while the 200-day average is $62.91. The overall market capitalization of Rio Tinto Group is $78.21 billion with a P/E ratio of 9.67, along with a P/E/G ratio of 0.42 and a beta of 0.60. Over the past year, shares have traded between a low of $57.85 and a high of $74.24.

Dividend Announcement

Furthermore, Rio Tinto Group has announced an increase in its semi-annual dividend, which will be disbursed on April 17th. Shareholders of record on March 7th will receive a dividend payment of $2.23 per share, reflecting a yield of 7%. This new dividend marks a positive change from the previous semi-annual payout of $1.77, and the company’s payout ratio currently sits at 69.15%.

About Rio Tinto Group

Rio Tinto Group specializes in the exploration, mining, and processing of mineral resources globally. Its operations are divided into several segments, including Iron Ore, Aluminium, Copper, and Minerals. The Iron Ore segment primarily focuses on iron ore mining, while the Aluminium segment involves bauxite mining, alumina refining, and aluminium smelting.

Investment Considerations

Before making investment decisions regarding Rio Tinto Group, potential investors may want to consider other top-rated stocks recommended by analysts. While Rio Tinto is currently rated as a Moderate Buy, there are other stocks that analysts have identified as better investment opportunities.

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