The Manufacturers Life Insurance Company Has $11.32 Million Holdings in Rio Tinto Group (NYSE:RIO)

The Manufacturers Life Insurance Company grew its holdings in shares of Rio Tinto Group (NYSE:RIOFree Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,000 shares of the mining company’s stock after buying an additional 5,837 shares during the period. The Manufacturers Life Insurance Company’s holdings in Rio Tinto Group were worth $11,318,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AdvisorNet Financial Inc lifted its holdings in shares of Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Rio Tinto Group by 39.3% in the 4th 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 last quarter. Financial Management Professionals Inc. increased its holdings in Rio Tinto Group by 250.6% in the 4th 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 last quarter. Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group in the 4th quarter worth about $47,000. Finally, Bogart Wealth LLC boosted its stake in Rio Tinto Group by 279.3% in the 4th quarter. Bogart Wealth LLC now owns 679 shares of the mining company’s stock worth $51,000 after purchasing an additional 500 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Price Performance

RIO opened at $68.23 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The stock’s 50 day moving average price is $68.61 and its 200-day moving average price is $68.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RIO. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Check Out Our Latest Stock Analysis on RIO

Rio Tinto Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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