Wells Fargo & Company MN Sells 3,220 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Wells Fargo & Company MN lessened its stake in InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,594 shares of the company's stock after selling 3,220 shares during the period. Wells Fargo & Company MN owned about 0.05% of InterContinental Hotels Group worth $10,193,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Stifel Financial Corp lifted its position in shares of InterContinental Hotels Group by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company's stock worth $1,943,000 after acquiring an additional 1,107 shares during the period. Jane Street Group LLC lifted its position in InterContinental Hotels Group by 120.2% in the third quarter. Jane Street Group LLC now owns 4,269 shares of the company's stock worth $472,000 after purchasing an additional 2,330 shares during the period. XTX Topco Ltd boosted its stake in InterContinental Hotels Group by 17.9% during the third quarter. XTX Topco Ltd now owns 2,591 shares of the company's stock worth $286,000 after buying an additional 393 shares in the last quarter. MML Investors Services LLC boosted its stake in InterContinental Hotels Group by 3.2% during the third quarter. MML Investors Services LLC now owns 6,792 shares of the company's stock worth $750,000 after buying an additional 212 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of InterContinental Hotels Group in the 3rd quarter valued at $470,000. Institutional investors own 15.09% of the company's stock.

InterContinental Hotels Group Price Performance

Shares of NYSE:IHG traded up $2.58 during trading on Tuesday, reaching $102.84. The stock had a trading volume of 360,791 shares, compared to its average volume of 187,704. The stock has a market capitalization of $16.16 billion, a PE ratio of 18.23, a P/E/G 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. The business's 50-day moving average price is $113.44 and its 200 day moving average price is $120.09.

InterContinental Hotels Group Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IHG. Citigroup initiated coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating on the stock. Morgan Stanley lowered InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research note 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. 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, InterContinental Hotels Group presently has a consensus rating of "Hold".

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.