2,166 Shares in Intercontinental Hotels Group $IHG Acquired by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC acquired a new stake of 2,166 shares in Intercontinental Hotels Group during the second quarter, valued at approximately $250,000.
• Several large investors, including Golden State Wealth Management LLC and Brooklyn Investment Group, significantly increased their stakes in the company during the first quarter.
• Analysts have upgraded Intercontinental Hotels Group's stock ratings, with JPMorgan Chase & Co. improving it from "neutral" to "overweight" recently.

Park Avenue Securities LLC acquired a new stake in Intercontinental Hotels Group (NYSE:IHG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,166 shares of the company's stock, valued at approximately $250,000.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of Intercontinental Hotels Group by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares during the period. Brooklyn Investment Group raised its position in shares of Intercontinental Hotels Group by 219.5% in the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company's stock valued at $27,000 after acquiring an additional 169 shares during the period. Whittier Trust Co. raised its position in shares of Intercontinental Hotels Group by 186.3% in the 1st quarter. Whittier Trust Co. now owns 272 shares of the company's stock valued at $30,000 after acquiring an additional 177 shares during the period. TD Private Client Wealth LLC boosted its stake in Intercontinental Hotels Group by 48.7% during the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock worth $38,000 after acquiring an additional 114 shares during the last quarter. Finally, Aviso Financial Inc. acquired a new position in Intercontinental Hotels Group during the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 15.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Intercontinental Hotels Group from a "neutral" rating to an "overweight" rating in a report on Friday, September 26th. Wall Street Zen raised Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Morgan Stanley raised Intercontinental Hotels Group from an "underweight" rating to an "equal weight" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold".

Intercontinental Hotels Group Trading Down 0.0%

NYSE:IHG opened at $121.26 on Thursday. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The stock has a market cap of $18.54 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The stock's 50-day moving average is $120.22 and its 200-day moving average is $115.45.

Intercontinental Hotels Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be given a dividend of $0.566 per share. The ex-dividend date is Friday, August 22nd. This represents a dividend yield of 140.0%. Intercontinental Hotels Group's dividend payout ratio is presently 20.04%.

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.

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