LPL Financial LLC Has $3.77 Million Stock Position in Intercontinental Hotels Group $IHG

Key Points

• LPL Financial LLC reduced its stake in Intercontinental Hotels Group (IHG) by 20.3%, selling 8,729 shares, with remaining holdings valued at approximately $3.77 million.
• Several institutional investors, including Raymond James and Russell Investments, increased their positions in IHG during the 4th quarter, indicating heightened interest in the stock.
• Intercontinental Hotels Group announced a semi-annual dividend of $0.566 per share, representing a yield of 140.0%, with payouts scheduled for October 2nd.

LPL Financial LLC trimmed its holdings in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 20.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,366 shares of the company's stock after selling 8,729 shares during the period. LPL Financial LLC's holdings in Intercontinental Hotels Group were worth $3,766,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Intercontinental Hotels Group by 8.9% during the 4th quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock worth $53,756,000 after buying an additional 35,003 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of Intercontinental Hotels Group by 1.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company's stock valued at $46,613,000 after purchasing an additional 6,709 shares during the period. GAMMA Investing LLC raised its holdings in shares of Intercontinental Hotels Group by 9,964.5% in the 1st quarter. GAMMA Investing LLC now owns 146,741 shares of the company's stock valued at $160,810,000 after purchasing an additional 145,283 shares during the period. Northern Trust Corp raised its holdings in shares of 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 purchasing an additional 55,404 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Intercontinental Hotels Group in the 4th quarter valued at about $13,796,000. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Stock Down 0.8%

Shares of IHG stock traded down $1.01 on Wednesday, reaching $121.06. The stock had a trading volume of 126,669 shares, compared to its average volume of 217,247. The firm's 50-day moving average is $117.38 and its two-hundred day moving average is $116.70. The firm has a market capitalization of $18.66 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 1.33. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $137.25.

Intercontinental Hotels Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, August 22nd will be issued a $0.566 dividend. 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 is presently 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.