InterContinental Hotels Group PLC (NYSE:IHG) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 8.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 430,323 shares of the company's stock after buying an additional 35,003 shares during the quarter. Bank of America Corp DE owned about 0.27% of InterContinental Hotels Group worth $53,756,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IHG. Richardson Financial Services Inc. purchased a new position in shares of InterContinental Hotels Group in the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its stake in shares of InterContinental Hotels Group by 67.3% in the 4th quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of InterContinental Hotels Group in the 4th quarter valued at approximately $42,000. Smartleaf Asset Management LLC lifted its holdings in shares of InterContinental Hotels Group by 419.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock valued at $72,000 after buying an additional 461 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of InterContinental Hotels Group in the 4th quarter valued at approximately $72,000. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analysts Set New Price Targets

IHG has been the subject of several recent analyst reports. Citigroup initiated coverage on InterContinental Hotels Group in a report on Monday, February 24th. They issued a "sell" rating for the company. Deutsche Bank Aktiengesellschaft raised InterContinental Hotels Group from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, InterContinental Hotels Group presently has a consensus rating of "Hold".

InterContinental Hotels Group Stock Performance

IHG stock traded down $0.21 during midday trading on Friday, hitting $122.47. 233,307 shares of the stock were exchanged, compared to its average volume of 191,494. The stock's 50-day moving average price is $109.29 and its 200-day moving average price is $120.24. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.69 and a beta of 1.34. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 4th were issued a dividend of $1.144 per share. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. This represents a yield of 1.4%. InterContinental Hotels Group's payout ratio is currently 39.36%.

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.