Proficio Capital Partners LLC Makes New Investment in InterContinental Hotels Group PLC (NYSE:IHG)

Proficio Capital Partners LLC purchased a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,489 shares of the company's stock, valued at approximately $2,185,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company's stock worth $705,758,000 after buying an additional 351,723 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of InterContinental Hotels Group by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company's stock worth $35,388,000 after buying an additional 73,361 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of InterContinental Hotels Group during the 4th quarter worth approximately $11,846,000. World Investment Advisors LLC purchased a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth approximately $86,000. Finally, Quantinno Capital Management LP lifted its position in shares of InterContinental Hotels Group by 4.9% during the 3rd quarter. Quantinno Capital Management LP now owns 30,277 shares of the company's stock worth $3,345,000 after buying an additional 1,418 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup began coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating for the company. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research report on Friday, January 10th. Finally, Morgan Stanley downgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold".

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InterContinental Hotels Group Trading Down 2.7 %

IHG stock traded down $3.03 on Friday, hitting $109.65. The company's stock had a trading volume of 244,082 shares, compared to its average volume of 170,527. The firm has a 50 day moving average of $126.41 and a two-hundred day moving average of $120.45. InterContinental Hotels Group PLC has a 1 year low of $91.57 and a 1 year high of $137.25. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be given a dividend of $1.144 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.4%. This is an increase from InterContinental Hotels Group's previous semi-annual dividend of $0.53. InterContinental Hotels Group's dividend payout ratio is presently 39.36%.

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.