Northern Trust Corp Raises Stock Holdings in Intercontinental Hotels Group $IHG

Key Points

• Northern Trust Corp has increased its stake in Intercontinental Hotels Group by 3.2%, now owning 150,918 shares worth approximately $16.5 million.
• Wall Street Zen upgraded Intercontinental Hotels Group's stock rating from "hold" to "buy", indicating a more favorable outlook among analysts.
• The company's recent semi-annual dividend is $0.566 per share, contributing to a dividend yield of 140.0%, with a payout ratio of 20.04%.

Northern Trust Corp lifted its holdings in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,918 shares of the company's stock after buying an additional 4,644 shares during the period. Northern Trust Corp owned about 0.10% of Intercontinental Hotels Group worth $16,539,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings 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 worth $232,000 after buying an additional 96 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Intercontinental Hotels Group during the 1st quarter worth $276,000. XTX Topco Ltd acquired a new position in shares of Intercontinental Hotels Group during the 1st quarter worth $1,650,000. Cetera Investment Advisers increased its holdings in Intercontinental Hotels Group by 27.5% in the 4th quarter. Cetera Investment Advisers now owns 11,593 shares of the company's stock worth $1,448,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Intercontinental Hotels Group in the 1st quarter worth about $693,000. Institutional investors and hedge funds own 15.09% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Intercontinental Hotels Group Price Performance

Shares of Intercontinental Hotels Group stock traded up $1.03 on Friday, hitting $123.12. 317,815 shares of the company's stock traded hands, compared to its average volume of 163,698. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The company has a fifty day moving average of $119.43 and a two-hundred day moving average of $115.65. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be issued a $0.566 dividend. The ex-dividend date is Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group's dividend payout ratio is presently 20.04%.

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.