D. E. Shaw & Co. Inc. Trims Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

D. E. Shaw & Co. Inc. lessened its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 79.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,455 shares of the company's stock after selling 32,486 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in InterContinental Hotels Group were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. purchased a new position in shares of InterContinental Hotels Group during the fourth quarter worth about $25,000. Farther Finance Advisors LLC lifted its position in InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in InterContinental Hotels Group in the 4th quarter worth approximately $42,000. Venturi Wealth Management LLC bought a new position in shares of InterContinental Hotels Group in the 4th quarter worth $72,000. Finally, Smartleaf Asset Management LLC raised its position in shares of InterContinental Hotels Group by 419.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock valued at $72,000 after buying an additional 461 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Performance

NYSE:IHG traded up $0.06 during trading hours on Thursday, reaching $117.24. The company's stock had a trading volume of 172,564 shares, compared to its average volume of 192,675. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.69 and a beta of 1.34. The firm has a 50-day simple moving average of $110.38 and a 200-day simple moving average of $120.41. InterContinental Hotels Group PLC has a 1 year low of $91.57 and a 1 year high of $137.25.

InterContinental Hotels Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 4th were paid a $1.144 dividend. This represents a dividend yield of 1.4%. The ex-dividend date was Friday, April 4th. This is a positive change from InterContinental Hotels Group's previous semi-annual dividend of $0.53. InterContinental Hotels Group's payout ratio is 39.36%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IHG. Citigroup initiated coverage on InterContinental Hotels Group in a research note on Monday, February 24th. They issued a "sell" rating on the stock. Deutsche Bank Aktiengesellschaft raised InterContinental Hotels Group from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

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.