Public Employees Retirement System of Ohio Purchases New Holdings in Intercontinental Hotels Group $IHG

Key Points

• Public Employees Retirement System of Ohio acquired 18,825 IHG shares worth approximately $3.26 million during the second quarter. Other institutional investors also increased their positions, with institutions collectively owning 15.09% of the stock.
• Analyst sentiment is generally positive: IHG has a consensus rating of “Moderate Buy” and an average price target of $179, versus a recent share price of $160.01.
• IHG shares were down 0.5% and recently traded between a 52-week range of $117.29 and $175.89. The company also declared a $0.645 per-share dividend payable October 1 to shareholders of record as of August 21.

Public Employees Retirement System of Ohio acquired a new position in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,825 shares of the company's stock, valued at approximately $3,259,000.

Several other large investors have also recently made changes to their positions in IHG. Gradient Investments LLC raised its stake in Intercontinental Hotels Group by 4.2% during the second quarter. Gradient Investments LLC now owns 38,964 shares of the company's stock valued at $6,745,000 after buying an additional 1,560 shares during the last quarter. Baron Wealth Management LLC purchased a new position in Intercontinental Hotels Group in the second quarter worth about $236,000. GAMMA Investing LLC grew its holdings in shares of Intercontinental Hotels Group by 3.6% during the second quarter. GAMMA Investing LLC now owns 2,011 shares of the company's stock valued at $348,000 after buying an additional 70 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Intercontinental Hotels Group by 4.7% during the first quarter. NewEdge Advisors LLC now owns 8,207 shares of the company's stock valued at $1,095,000 after acquiring an additional 369 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Intercontinental Hotels Group by 25.0% in the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company's stock worth $12,448,000 after acquiring an additional 18,631 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Sanford C. Bernstein lifted their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a "market perform" rating in a report on Friday, May 15th. UBS Group raised Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 price objective on the stock in a research report on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. Jefferies Financial Group upped their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Finally, Zacks Research raised shares of Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Hotels Group has a consensus rating of "Moderate Buy" and a consensus price target of $179.00.

Intercontinental Hotels Group Stock Down 0.5%

Shares of IHG opened at $160.01 on Friday. Intercontinental Hotels Group has a one year low of $117.29 and a one year high of $175.89. The business has a fifty day moving average of $161.35 and a 200 day moving average of $151.89.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 21st will be issued a $0.645 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a dividend yield of 81.0%.

Intercontinental Hotels Group Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG's business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG's brand portfolio spans global and regional names designed to serve different traveler needs and market segments.

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