InterContinental Hotels Group (NYSE:IHG) Sees Unusually-High Trading Volume - Here's What Happened

InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 412,476 shares traded hands during mid-day trading, an increase of 127% from the previous session's volume of 181,826 shares.The stock last traded at $98.13 and had previously closed at $97.30.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research note on Friday, January 10th. Morgan Stanley lowered shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 8th. Finally, Citigroup initiated coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold".

InterContinental Hotels Group Stock Up 0.9 %

The firm has a market capitalization of $16.34 billion, a P/E ratio of 18.43, a PEG ratio of 1.69 and a beta of 1.29. The business's 50-day simple moving average is $118.12 and its 200 day simple moving average is $120.51.

InterContinental Hotels Group Increases Dividend

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

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Institutional Trading of InterContinental Hotels Group

Hedge funds have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new stake in InterContinental Hotels Group during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC boosted its stake in shares of InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock valued at $31,000 after purchasing an additional 101 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of InterContinental Hotels Group in the fourth quarter worth approximately $42,000. Venturi Wealth Management LLC purchased a new position in shares of InterContinental Hotels Group in the fourth quarter worth $72,000. Finally, Smartleaf Asset Management LLC increased its position in shares of InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock valued at $72,000 after acquiring an additional 461 shares during the period. 15.09% of the stock is owned by institutional investors.

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.