InterContinental Hotels Group (NYSE:IHG) Hits New 12-Month High - Still a Buy?

InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $114.33 and last traded at $114.32, with a volume of 4620 shares. The stock had previously closed at $113.75.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a "neutral" rating to a "buy" rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold".

InterContinental Hotels Group Stock Performance

The firm has a market capitalization of $18.27 billion, a PE ratio of 22.97, a P/E/G ratio of 1.73 and a beta of 1.32. The stock has a fifty day moving average price of $104.54 and a 200-day moving average price of $102.76.

InterContinental Hotels Group Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th were issued a $0.532 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from InterContinental Hotels Group's previous Semi-Annual dividend of $0.30. This represents a yield of 1.6%. InterContinental Hotels Group's payout ratio is currently 21.54%.

Institutional Trading of InterContinental Hotels Group

A number of institutional investors have recently modified their holdings of IHG. Allspring Global Investments Holdings LLC lifted its position in InterContinental Hotels Group by 22.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,807 shares of the company's stock valued at $200,000 after acquiring an additional 330 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of InterContinental Hotels Group by 61.1% during the 3rd quarter. Blue Trust Inc. now owns 3,708 shares of the company's stock valued at $393,000 after purchasing an additional 1,407 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of InterContinental Hotels Group during the 3rd quarter valued at $241,000. Aaron Wealth Advisors LLC purchased a new position in InterContinental Hotels Group during the 3rd quarter worth $214,000. Finally, Mitchell & Pahl Private Wealth LLC increased its position in InterContinental Hotels Group by 1.6% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 11,485 shares of the company's stock valued at $1,269,000 after buying an additional 177 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

About InterContinental Hotels Group

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.