Connor Clark & Lunn Investment Management Ltd. Sells 7,203 Shares of Intercontinental Hotels Group $IHG

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 43.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,378 shares of the company's stock after selling 7,203 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Intercontinental Hotels Group were worth $1,028,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IHG. Aaron Wealth Advisors LLC increased 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 buying an additional 96 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 buying an additional 96 shares in the last quarter. Golden State Wealth Management LLC increased 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 buying an additional 114 shares in the last quarter. TD Private Client Wealth LLC increased 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 buying an additional 114 shares in the last quarter. Finally, Whittier Trust Co. increased 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 buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG traded up $3.3320 during mid-day trading on Friday, hitting $122.7620. 37,556 shares of the stock were exchanged, compared to its average volume of 230,047. The company has a market cap of $18.92 billion, a P/E ratio of 21.77, a PEG ratio of 1.67 and a beta of 1.33. The stock's fifty day simple moving average is $117.49 and its two-hundred day simple moving average is $116.60. Intercontinental Hotels Group has a twelve month low of $94.78 and a twelve month high of $137.25.

Intercontinental Hotels Group Cuts Dividend

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