Entropy Technologies LP Raises Stock Position in Intercontinental Hotels Group (NYSE:IHG)

Key Points

• Entropy Technologies LP significantly increased its holdings in Intercontinental Hotels Group by 468.0%, owning a total of 11,894 shares valued at $1.3 million as of its latest SEC filing.
• Institutional investors collectively own 15.09% of Intercontinental Hotels Group's stock, with several firms like Allspring Global Investments and Golden State Wealth Management also increasing their stakes in the first quarter.
• Intercontinental Hotels Group's stock is currently rated as a "Hold" by analysts, with recent changes in ratings from Deutsche Bank reflecting a balance of sell and buy recommendations among investment analysts.

Entropy Technologies LP raised its position in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 468.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,894 shares of the company's stock after acquiring an additional 9,800 shares during the period. Entropy Technologies LP's holdings in Intercontinental Hotels Group were worth $1,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings 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 during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of Intercontinental Hotels Group by 4.5% during the first quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company's stock worth $246,000 after purchasing an additional 96 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Intercontinental Hotels Group by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Intercontinental Hotels Group by 48.7% during the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Intercontinental Hotels Group by 186.3% during the first quarter. Whittier Trust Co. now owns 272 shares of the company's stock worth $30,000 after purchasing an additional 177 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Stock Performance

Shares of Intercontinental Hotels Group stock traded up $0.83 during trading on Wednesday, hitting $121.58. 120,584 shares of the company's stock were exchanged, compared to its average volume of 203,611. The business has a 50-day simple moving average of $116.89 and a 200-day simple moving average of $117.13. Intercontinental Hotels Group has a 52-week low of $93.95 and a 52-week high of $137.25. The stock has a market capitalization of $18.76 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.72 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

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

Intercontinental Hotels Group Profile

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.