Vestmark Advisory Solutions Inc. Acquires New Position in Intercontinental Hotels Group $IHG

Key Points

• Vestmark Advisory Solutions Inc. has acquired a new position in Intercontinental Hotels Group (NYSE: IHG) worth approximately $693,000 by purchasing 6,326 shares in the first quarter.
• Intercontinental Hotels Group has declared a semi-annual dividend of $0.566 per share, with a dividend yield of 140.0%, to be paid on October 2.
• The company's stock is currently trading at $121.06 and has a market capitalization of $18.66 billion, with a P/E ratio of 21.46.

Vestmark Advisory Solutions Inc. bought a new stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,326 shares of the company's stock, valued at approximately $693,000.

A number of other hedge funds have also recently modified their holdings of the business. Natixis Advisors LLC raised its position in shares of Intercontinental Hotels Group by 2.8% in the 1st quarter. Natixis Advisors LLC now owns 717,617 shares of the company's stock worth $78,644,000 after purchasing an additional 19,467 shares during the last quarter. Bank of America Corp DE raised its position in Intercontinental Hotels Group by 8.9% in the 4th quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock worth $53,756,000 after buying an additional 35,003 shares during the last quarter. Clark Capital Management Group Inc. raised its position in Intercontinental Hotels Group by 1.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company's stock worth $46,613,000 after buying an additional 6,709 shares during the last quarter. GAMMA Investing LLC raised its position in Intercontinental Hotels Group by 9,964.5% in the 1st quarter. GAMMA Investing LLC now owns 146,741 shares of the company's stock worth $160,810,000 after buying an additional 145,283 shares during the last quarter. Finally, Northern Trust Corp raised its position in Intercontinental Hotels Group by 61.0% in the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company's stock worth $18,273,000 after buying an additional 55,404 shares during the last quarter. Institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Trading Up 2.8%

NYSE:IHG traded up $3.32 during mid-day trading on Friday, reaching $122.75. The company's stock had a trading volume of 108,216 shares, compared to its average volume of 230,571. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $137.25. The firm's fifty day moving average price is $117.49 and its two-hundred day moving average price is $116.60. The stock has a market cap of $18.92 billion, a P/E ratio of 21.77, a PEG ratio of 1.67 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.566 per share. This represents a dividend yield of 140.0%. The ex-dividend date is Friday, August 22nd. Intercontinental Hotels Group's payout ratio is currently 39.54%.

Intercontinental Hotels Group 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.