Hsbc Holdings PLC Has $1.21 Million Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Hsbc Holdings PLC grew its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 133.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,433 shares of the company's stock after purchasing an additional 6,533 shares during the quarter. Hsbc Holdings PLC's holdings in InterContinental Hotels Group were worth $1,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in InterContinental Hotels Group by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 332 shares of the company's stock worth $35,000 after acquiring an additional 106 shares during the period. Rothschild Investment LLC bought a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth about $36,000. Allspring Global Investments Holdings LLC bought a new position in shares of InterContinental Hotels Group in the first quarter valued at approximately $48,000. EverSource Wealth Advisors LLC raised its holdings in InterContinental Hotels Group by 65.2% during the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company's stock worth $48,000 after purchasing an additional 191 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of InterContinental Hotels Group in the 2nd quarter worth $50,000. 15.09% of the stock is currently owned by institutional investors and hedge funds.

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 research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, InterContinental Hotels Group presently has a consensus rating of "Hold".

InterContinental Hotels Group Trading Up 0.4 %

NYSE IHG traded up $0.43 on Friday, hitting $113.17. 163,674 shares of the stock were exchanged, compared to its average volume of 185,406. The company's 50-day moving average price is $101.03 and its two-hundred day moving average price is $102.12. InterContinental Hotels Group PLC has a 52-week low of $70.06 and a 52-week high of $114.20.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, August 30th will be given a dividend of $0.532 per share. This represents a yield of 1.6%. This is a positive change from InterContinental Hotels Group's previous Semi-Annual dividend of $0.30. The ex-dividend date is Friday, August 30th.

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.