Kayne Anderson Rudnick Investment Management LLC Raises Position in Intercontinental Hotels Group $IHG

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly increased its stake in Intercontinental Hotels Group, acquiring an additional 11,854 shares, resulting in a total of 21,135 shares valued at approximately $2.3 million.
• Intercontinental Hotels Group's shares recently opened at $121.05, with a market capitalization of $18.65 billion and a 52-week price range between $94.78 and $137.25.
• The company announced a semi-annual dividend of $0.566, with a yield of 140.0%, scheduled for payment on October 2nd to shareholders of record on August 22nd.

Kayne Anderson Rudnick Investment Management LLC increased its stake in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 127.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,135 shares of the company's stock after purchasing an additional 11,854 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Intercontinental Hotels Group were worth $2,316,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC boosted its holdings in shares of Intercontinental Hotels Group by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Intercontinental Hotels Group by 219.5% in the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company's stock worth $27,000 after purchasing an additional 169 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Intercontinental Hotels Group by 186.3% in the 1st quarter. Whittier Trust Co. now owns 272 shares of the company's stock worth $30,000 after purchasing an additional 177 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Intercontinental Hotels Group by 48.7% in the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Aviso Financial Inc. purchased a new position in shares of Intercontinental Hotels Group in the 1st quarter worth about $66,000. 15.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG traded down $0.27 during mid-day trading on Friday, hitting $122.58. The stock had a trading volume of 118,718 shares, compared to its average volume of 203,678. The firm has a market cap of $18.87 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $137.25. The business has a 50 day moving average price of $118.70 and a two-hundred day moving average price of $115.92.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, August 22nd will be given a $0.566 dividend. This represents a dividend yield of 140.0%. The ex-dividend date is Friday, August 22nd. Intercontinental Hotels Group's dividend payout ratio (DPR) is currently 20.04%.

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.