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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Natixis Advisors LLC lifted its holdings 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 valued at $78,644,000 after buying an additional 19,467 shares during the period. Bank of America Corp DE raised its position in Intercontinental Hotels Group by 8.9% in the fourth quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock worth $53,756,000 after acquiring an additional 35,003 shares in the last quarter. Clark Capital Management Group Inc. raised its position in Intercontinental Hotels Group by 1.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company's stock worth $46,613,000 after acquiring an additional 6,709 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Intercontinental Hotels Group by 9,964.5% in the first quarter. GAMMA Investing LLC now owns 146,741 shares of the company's stock valued at $160,810,000 after acquiring an additional 145,283 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Intercontinental Hotels Group by 61.0% during the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company's stock worth $18,273,000 after purchasing an additional 55,404 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Friday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Intercontinental Hotels Group presently has an average rating of "Hold".

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock traded up $2.61 during trading hours on Friday, hitting $122.63. The stock had a trading volume of 150,375 shares, compared to its average volume of 208,824. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The stock has a market capitalization of $18.90 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.69 and a beta of 1.33. The stock's fifty day moving average is $117.71 and its two-hundred day moving average is $116.40.

Intercontinental Hotels Group Cuts Dividend

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

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.