Massachusetts Financial Services Co. MA raised its holdings in InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 6.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,358 shares of the company's stock after buying an additional 2,945 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in InterContinental Hotels Group were worth $6,041,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in IHG. Richardson Financial Services Inc. acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter worth $25,000. Farther Finance Advisors LLC grew its position 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 purchasing an additional 101 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of InterContinental Hotels Group during the 4th quarter worth about $42,000. Venturi Wealth Management LLC acquired a new position in shares of InterContinental Hotels Group during the fourth quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC lifted its stake 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 buying an additional 461 shares during the period. 15.09% of the stock is owned by institutional investors.
InterContinental Hotels Group Price Performance
Shares of InterContinental Hotels Group stock traded up $0.94 during trading on Friday, hitting $103.96. 248,377 shares of the company's stock traded hands, compared to its average volume of 185,562. The company has a market cap of $16.34 billion, a PE ratio of 18.43, a PEG ratio of 1.69 and a beta of 1.29. The firm's fifty day moving average price is $118.12 and its 200 day moving average price is $120.51. InterContinental Hotels Group PLC has a twelve month low of $91.57 and a twelve month high of $137.25.
InterContinental Hotels Group Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.144 per share. This represents a yield of 1.4%. This is an increase from InterContinental Hotels Group's previous semi-annual dividend of $0.53. The ex-dividend date of this dividend is Friday, April 4th. InterContinental Hotels Group's payout ratio is presently 39.36%.
Wall Street Analysts Forecast Growth
IHG has been the topic of several research reports. Citigroup started coverage on InterContinental Hotels Group in a research note on Monday, February 24th. They set a "sell" rating on the stock. Morgan Stanley lowered InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold".
Read Our Latest Stock Report on IHG
About InterContinental Hotels Group
(
Free Report)
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.
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