Earnest Partners LLC Lowers Stake in Intercontinental Hotels Group $IHG

Key Points

• Earnest Partners LLC has decreased its stake in Intercontinental Hotels Group by 30.1%, selling 3,536 shares and now owning 8,198 shares, valued at $898,000.
• Several institutional investors have increased their holdings in IHG, with Golden State Wealth Management LLC growing its stake by 100% during the same quarter.
• Wall Street analysts have upgraded IHG's rating from "hold" to "buy", with the stock currently holding a consensus rating of "hold" among six analysts.

Earnest Partners LLC lessened its position in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 30.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,198 shares of the company's stock after selling 3,536 shares during the period. Earnest Partners LLC's holdings in Intercontinental Hotels Group were worth $898,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Intercontinental Hotels Group by 4.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock valued at $232,000 after purchasing an additional 96 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Intercontinental Hotels Group during the 1st quarter valued at about $276,000. Northern Trust Corp boosted its stake in shares of Intercontinental Hotels Group by 61.0% during the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company's stock valued at $18,273,000 after purchasing an additional 55,404 shares in the last quarter. XTX Topco Ltd purchased a new position in Intercontinental Hotels Group during the 1st quarter valued at about $1,650,000. Finally, Cetera Investment Advisers increased its holdings in shares of Intercontinental Hotels Group by 27.5% during the fourth quarter. Cetera Investment Advisers now owns 11,593 shares of the company's stock valued at $1,448,000 after acquiring an additional 2,498 shares in the last quarter. Institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Stock Performance

Shares of IHG stock traded down $0.27 during trading hours on Friday, reaching $122.58. The company had a trading volume of 118,718 shares, compared to its average volume of 201,564. The business has a fifty day moving average price of $118.70 and a 200-day moving average price of $115.78. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The firm has a market cap of $18.86 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27.

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 given a dividend of $0.566 per share. This represents a yield of 140.0%. The ex-dividend date is Friday, August 22nd. Intercontinental Hotels Group's payout ratio is 20.04%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold".

Intercontinental Hotels Group Company 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.