CCLA Investment Management Takes Position in Intercontinental Hotels Group $IHG

Key Points

• CCLA Investment Management acquired a new stake of 811,662 shares (~$114.3M) in Intercontinental Hotels Group during Q4, making IHG its 28th largest holding and leaving CCLA with roughly a 0.54% ownership stake in the company.
• Several analysts have recently upgraded IHG—Berenberg to strong-buy and Jefferies to buy—with the consensus rating reported as a "Moderate Buy" (1 Strong Buy, 3 Buy, 2 Hold).
• IHG disclosed a dividend of $1.259 per share payable on May 14 to investors of record on April 10 (ex-dividend date April 10); the article states this represents a 191.0% dividend yield.

CCLA Investment Management acquired a new stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 811,662 shares of the company's stock, valued at approximately $114,306,000. Intercontinental Hotels Group makes up about 1.8% of CCLA Investment Management's holdings, making the stock its 28th largest position. CCLA Investment Management owned 0.54% of Intercontinental Hotels Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Yousif Capital Management LLC purchased a new position in Intercontinental Hotels Group in the 4th quarter worth approximately $217,000. Aaron Wealth Advisors LLC lifted its stake in Intercontinental Hotels Group by 4.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,503 shares of the company's stock worth $352,000 after purchasing an additional 109 shares in the last quarter. Signaturefd LLC lifted its stake in Intercontinental Hotels Group by 3.0% in the 4th quarter. Signaturefd LLC now owns 10,033 shares of the company's stock worth $1,413,000 after purchasing an additional 292 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in Intercontinental Hotels Group in the 4th quarter worth $407,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Intercontinental Hotels Group by 7.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,148 shares of the company's stock worth $296,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 20th. Jefferies Financial Group raised Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy".

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock opened at $141.06 on Thursday. Intercontinental Hotels Group has a 1-year low of $95.38 and a 1-year high of $150.89. The company's 50-day moving average is $137.34 and its 200 day moving average is $133.30.

Intercontinental Hotels Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 14th. Investors of record on Friday, April 10th will be issued a $1.259 dividend. This represents a dividend yield of 191.0%. The ex-dividend date is Friday, April 10th.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG's business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG's brand portfolio spans global and regional names designed to serve different traveler needs and market segments.

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