InterContinental Hotels Group (NYSE:IHG) Shares Gap Down - What's Next?

Shares of InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $112.68, but opened at $108.43. InterContinental Hotels Group shares last traded at $108.15, with a volume of 54,652 shares.

Analysts Set New Price Targets

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

InterContinental Hotels Group Stock Up 0.1 %

The stock has a market cap of $17.48 billion, a PE ratio of 19.69, a P/E/G ratio of 1.69 and a beta of 1.33. The firm has a 50-day simple moving average of $126.17 and a 200-day simple moving average of $120.69.

InterContinental Hotels Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be paid a $1.144 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.4%. This is an increase 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 Investors Weigh In On InterContinental Hotels Group

A number of institutional investors and hedge funds have recently modified their holdings of IHG. Richardson Financial Services Inc. purchased a new stake in InterContinental Hotels Group in the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC raised its position in shares of InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock worth $31,000 after buying an additional 101 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in InterContinental Hotels Group during the fourth quarter valued at $42,000. Venturi Wealth Management LLC bought a new position in InterContinental Hotels Group in the 4th quarter worth about $72,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of InterContinental Hotels Group by 419.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock valued at $72,000 after acquiring an additional 461 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other 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.