Cetera Investment Advisers Cuts Stake in Intercontinental Hotels Group $IHG

Key Points

• Cetera Investment Advisers has reduced its stake in Intercontinental Hotels Group (IHG) by 54.6%, selling 6,329 shares, and now holds 5,264 shares worth $577,000.
• Intercontinental Hotels Group recently announced a semi-annual dividend of $0.566 per share, with the ex-dividend date set for August 22nd.
• The company has a market capitalization of $18.70 billion and its shares are currently trading at $121.16, with a twelve-month price range between $94.78 and $137.25.

Cetera Investment Advisers lessened its holdings in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 54.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,264 shares of the company's stock after selling 6,329 shares during the quarter. Cetera Investment Advisers' holdings in Intercontinental Hotels Group were worth $577,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Intercontinental Hotels Group by 4.8% during the first 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. Janney Montgomery Scott LLC acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth about $276,000. Northern Trust Corp lifted its position in shares of Intercontinental Hotels Group by 61.0% during the fourth 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. Raymond James Financial Inc. purchased a new stake in shares of Intercontinental Hotels Group during the fourth quarter worth approximately $13,796,000. Finally, Clark Capital Management Group Inc. increased its stake in shares of Intercontinental Hotels Group by 1.8% during the fourth 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 period. Institutional investors and hedge funds own 15.09% of the company's stock.

Intercontinental Hotels Group Price Performance

Shares of IHG stock traded down $1.01 during trading hours on Wednesday, reaching $121.06. 126,669 shares of the stock were exchanged, compared to its average volume of 217,247. The business's fifty day moving average is $117.38 and its two-hundred day moving average is $116.70. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $137.25. The firm has a market capitalization of $18.66 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

The business 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 $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 is currently 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.