Raymond James Financial Inc. acquired a new stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 110,439 shares of the company's stock, valued at approximately $13,796,000. Raymond James Financial Inc. owned about 0.07% of InterContinental Hotels Group at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. purchased a new position in InterContinental Hotels Group in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of InterContinental Hotels Group during the fourth quarter valued at $42,000. Smartleaf Asset Management LLC increased its holdings in InterContinental Hotels Group by 419.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock worth $72,000 after buying an additional 461 shares in the last quarter. Venturi Wealth Management LLC bought a new position in InterContinental Hotels Group during the 4th quarter valued at about $72,000. Finally, R Squared Ltd purchased a new stake in shares of InterContinental Hotels Group during the 4th quarter valued at about $89,000. 15.09% of the stock is owned by institutional investors.
InterContinental Hotels Group Stock Down 1.1 %
NYSE IHG opened at $100.40 on Tuesday. The stock's 50-day moving average price is $114.08 and its 200-day moving average price is $120.21. The company has a market capitalization of $15.78 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.29. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25.
InterContinental Hotels Group Increases Dividend
The business also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be given a dividend of $1.144 per share. This is a positive change 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 is currently 39.36%.
Analyst Ratings Changes
A number of brokerages recently weighed in on IHG. 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. Deutsche Bank Aktiengesellschaft upgraded InterContinental Hotels Group from a "sell" rating to a "hold" rating in a research report on Monday, April 14th. Citigroup initiated coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating for the company. Finally, 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".
Get Our Latest Stock Report on IHG
InterContinental Hotels Group Profile
(
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.
Further Reading
Want to see what other hedge funds are holding IHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterContinental Hotels Group PLC (NYSE:IHG - Free Report).
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