Graham Capital Management L.P. acquired a new position in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,154 shares of the company's stock, valued at approximately $1,003,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its holdings in Intercontinental Hotels Group by 4.5% during the 1st quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company's stock worth $246,000 after purchasing an additional 96 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Intercontinental Hotels Group by 4.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock worth $232,000 after purchasing an additional 96 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares in the last quarter. TD Private Client Wealth LLC increased its holdings 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 purchasing an additional 114 shares in the last quarter. Finally, Freedom Investment Management Inc. increased its holdings in Intercontinental Hotels Group by 4.4% during the 1st quarter. Freedom Investment Management Inc. now owns 3,929 shares of the company's stock worth $431,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 15.09% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on IHG
Intercontinental Hotels Group Trading Down 1.0%
Shares of NYSE IHG traded down $1.20 during mid-day trading on Tuesday, hitting $123.78. The company had a trading volume of 62,370 shares, compared to its average volume of 224,817. The company has a market capitalization of $19.02 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27. The firm has a 50-day simple moving average of $119.63 and a two-hundred day simple moving average of $115.47. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25.
Intercontinental Hotels Group Cuts Dividend
The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be paid a $0.566 dividend. This represents a yield of 140.0%. The ex-dividend date is Friday, August 22nd. Intercontinental Hotels Group's dividend payout ratio (DPR) is 20.04%.
Intercontinental Hotels Group Company Profile
(
Free Report)
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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