Millennium Management LLC Sells 43,290 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Millennium Management LLC lessened its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 27.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 112,835 shares of the company's stock after selling 43,290 shares during the period. Millennium Management LLC owned approximately 0.07% of InterContinental Hotels Group worth $14,095,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Entropy Technologies LP acquired a new position in shares of InterContinental Hotels Group during the 4th quarter worth about $262,000. Northern Trust Corp raised its holdings in InterContinental Hotels Group by 61.0% in the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company's stock valued at $18,273,000 after acquiring an additional 55,404 shares in the last quarter. Raymond James Financial Inc. acquired a new position in InterContinental Hotels Group in the 4th quarter valued at approximately $13,796,000. Atria Wealth Solutions Inc. raised its holdings in InterContinental Hotels Group by 40.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 5,545 shares of the company's stock valued at $693,000 after acquiring an additional 1,606 shares in the last quarter. Finally, Wealthstar Advisors LLC acquired a new position in InterContinental Hotels Group in the 4th quarter valued at approximately $497,000. Institutional investors and hedge funds own 15.09% of the company's stock.

InterContinental Hotels Group Price Performance

Shares of IHG traded down $1.93 during mid-day trading on Wednesday, reaching $117.39. The company had a trading volume of 37,661 shares, compared to its average volume of 192,165. InterContinental Hotels Group PLC has a twelve month low of $91.57 and a twelve month high of $137.25. The company's 50-day moving average is $110.10 and its 200-day moving average is $120.47. The company has a market capitalization of $18.26 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.69 and a beta of 1.34.

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 issued a $1.144 dividend. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. InterContinental Hotels Group's dividend payout ratio is presently 39.36%.

Wall Street Analysts Forecast Growth

IHG has been the subject of several recent research reports. Citigroup initiated coverage on InterContinental Hotels Group in a report on Monday, February 24th. They issued a "sell" rating for the company. Deutsche Bank Aktiengesellschaft raised InterContinental Hotels Group from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, InterContinental Hotels Group presently has a consensus 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.