Connor Clark & Lunn Investment Management Ltd. Purchases New Position in InterContinental Hotels Group PLC (NYSE:IHG)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 16,581 shares of the company's stock, valued at approximately $2,071,000.

Other large investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new stake in InterContinental Hotels Group during the 4th quarter worth about $25,000. Farther Finance Advisors LLC grew its holdings in InterContinental Hotels Group by 67.3% during the 4th quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock worth $31,000 after acquiring an additional 101 shares during the period. SBI Securities Co. Ltd. acquired a new stake in InterContinental Hotels Group during the 4th quarter worth about $42,000. Venturi Wealth Management LLC acquired a new stake in InterContinental Hotels Group during the 4th quarter worth about $72,000. Finally, Smartleaf Asset Management LLC grew its holdings in InterContinental Hotels Group by 419.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock worth $72,000 after acquiring an additional 461 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating on the stock. Morgan Stanley cut shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold".

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InterContinental Hotels Group Price Performance

Shares of IHG stock traded down $3.03 on Friday, reaching $109.65. 244,082 shares of the company were exchanged, compared to its average volume of 170,311. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $137.25. The company has a market cap of $17.26 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.69 and a beta of 1.33. The company has a 50-day moving average of $126.41 and a 200-day moving average of $120.30.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be given a $1.144 dividend. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. The ex-dividend date is Friday, April 4th. This represents a yield of 1.4%. InterContinental Hotels Group's dividend payout ratio (DPR) is presently 39.36%.

InterContinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.