Mediolanum International Funds Ltd Purchases New Shares in InterContinental Hotels Group PLC (NYSE:IHG)

Mediolanum International Funds Ltd bought a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,209 shares of the company's stock, valued at approximately $1,699,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in InterContinental Hotels Group by 46.9% in the 1st quarter. Russell Investments Group Ltd. now owns 332 shares of the company's stock worth $35,000 after buying an additional 106 shares during the period. Rothschild Investment LLC acquired a new stake in InterContinental Hotels Group in the 2nd quarter worth $36,000. Allspring Global Investments Holdings LLC bought a new position in shares of InterContinental Hotels Group during the 1st quarter worth about $48,000. EverSource Wealth Advisors LLC raised its position in shares of InterContinental Hotels Group by 65.2% during the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company's stock valued at $48,000 after buying an additional 191 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in InterContinental Hotels Group during the second quarter worth about $50,000. Institutional investors and hedge funds own 15.09% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded InterContinental Hotels Group from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, InterContinental Hotels Group currently has an average rating of "Hold".

InterContinental Hotels Group Trading Up 1.2 %

IHG stock traded up $1.36 during trading on Monday, hitting $113.18. The company had a trading volume of 84,768 shares, compared to its average volume of 177,783. The company has a fifty day moving average price of $106.62 and a two-hundred day moving average price of $103.26. InterContinental Hotels Group PLC has a fifty-two week low of $71.01 and a fifty-two week high of $115.25. The company has a market cap of $18.03 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.81 and a beta of 1.32.

InterContinental Hotels Group Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, August 30th were issued a dividend of $0.532 per share. This is an increase from InterContinental Hotels Group's previous Semi-Annual dividend of $0.30. This represents a yield of 1.6%. The ex-dividend date was Friday, August 30th. InterContinental Hotels Group's dividend payout ratio (DPR) is currently 21.63%.

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.