JPMorgan Chase & Co. Cuts Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

JPMorgan Chase & Co. lowered its position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,824 shares of the company's stock after selling 73,462 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of InterContinental Hotels Group worth $30,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of InterContinental Hotels Group in the 4th quarter worth $25,000. Farther Finance Advisors LLC increased its holdings in InterContinental Hotels Group by 67.3% in the 4th 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. purchased a new position in InterContinental Hotels Group in the 4th quarter worth about $42,000. Venturi Wealth Management LLC bought a new position in InterContinental Hotels Group during the 4th quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of InterContinental Hotels Group by 419.1% during 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 during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on IHG. Citigroup started coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They set a "sell" rating for the company. Sanford C. Bernstein raised InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a report on Friday, January 10th. Finally, Morgan Stanley lowered InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold".

Remove Ads

InterContinental Hotels Group Trading Up 0.9 %

InterContinental Hotels Group stock traded up $0.94 during mid-day trading on Friday, hitting $103.96. The stock had a trading volume of 248,377 shares, compared to its average volume of 185,562. The firm has a market capitalization of $16.34 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.69 and a beta of 1.29. The firm's 50 day moving average is $118.12 and its 200 day moving average is $120.51. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $137.25.

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 issued a $1.144 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. This represents a yield of 1.4%. InterContinental Hotels Group's payout ratio is currently 39.36%.

InterContinental Hotels Group 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.