Truist Financial Corp Sells 16,996 Shares of Rio Tinto Group (NYSE:RIO)

Truist Financial Corp trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,938 shares of the mining company’s stock after selling 16,996 shares during the quarter. Truist Financial Corp’s holdings in Rio Tinto Group were worth $11,909,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc raised its holdings in shares of Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. SouthState Corp acquired a new stake in shares of Rio Tinto Group during the third quarter worth $32,000. Parkside Financial Bank & Trust raised its holdings in shares of Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after acquiring an additional 156 shares during the period. Financial Management Professionals Inc. raised its holdings in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after acquiring an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Down 0.5 %

Rio Tinto Group stock opened at $67.49 on Thursday. The company’s 50-day moving average is $64.94 and its 200-day moving average is $67.42. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

Rio Tinto Group Increases Dividend

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

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.