Orion Portfolio Solutions LLC boosted its stake in InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,886 shares of the company's stock after purchasing an additional 2,650 shares during the period. Orion Portfolio Solutions LLC's holdings in InterContinental Hotels Group were worth $1,859,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in IHG. Natixis Advisors LLC grew its stake in shares of InterContinental Hotels Group by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 698,150 shares of the company's stock valued at $87,213,000 after buying an additional 8,067 shares in the last quarter. JPMorgan Chase & Co. grew its position in InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company's stock valued at $35,388,000 after acquiring an additional 73,361 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in InterContinental Hotels Group in the fourth quarter valued at approximately $13,796,000. ABC Arbitrage SA purchased a new stake in shares of InterContinental Hotels Group during the fourth quarter valued at approximately $11,846,000. Finally, World Investment Advisors LLC purchased a new position in shares of InterContinental Hotels Group in the third quarter valued at $86,000. 15.09% of the stock is owned by hedge funds and other institutional investors.
InterContinental Hotels Group Price Performance
IHG traded down $3.93 during trading on Monday, hitting $97.17. The company had a trading volume of 635,963 shares, compared to its average volume of 180,868. InterContinental Hotels Group PLC has a 1-year low of $91.57 and a 1-year high of $137.25. The company has a market cap of $15.27 billion, a PE ratio of 17.23, a P/E/G ratio of 1.69 and a beta of 1.29. The business has a 50-day moving average of $122.09 and a 200-day moving average of $121.01.
InterContinental Hotels Group Increases Dividend
The business also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be given a dividend of $1.144 per share. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. The ex-dividend date is Friday, April 4th. This represents a dividend yield of 1.4%. InterContinental Hotels Group's dividend payout ratio (DPR) is presently 39.36%.
Analysts Set New Price Targets
Several research firms recently issued reports on IHG. Morgan Stanley downgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, January 8th. Citigroup initiated coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating on the stock. Finally, Sanford C. Bernstein raised InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".
Read Our Latest Stock Report on InterContinental Hotels Group
InterContinental Hotels Group Profile
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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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