Quantbot Technologies LP Has $1.83 Million Stock Position in Intercontinental Hotels Group $IHG

Key Points

• Quantbot Technologies LP increased its stake in Intercontinental Hotels Group by 15.8%, acquiring 2,279 shares in the first quarter, bringing its total holdings to 16,661 shares worth approximately $1.826 million.
• Other hedge funds have also modified their positions, with significant increases from Allspring Global Investments (4.8%) and Northern Trust Corp (61.0%) in the last quarter.
• Intercontinental Hotels Group recently announced a semi-annual dividend of $0.566 per share, with a yield of 140.0%, despite a payout ratio of 39.54%.

Quantbot Technologies LP increased its stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,661 shares of the company's stock after buying an additional 2,279 shares during the period. Quantbot Technologies LP's holdings in Intercontinental Hotels Group were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of IHG. Natixis Advisors LLC boosted its stake in shares of Intercontinental Hotels Group by 2.8% in the first quarter. Natixis Advisors LLC now owns 717,617 shares of the company's stock valued at $78,644,000 after purchasing an additional 19,467 shares during the period. Bank of America Corp DE increased its holdings in shares of Intercontinental Hotels Group by 8.9% in the 4th quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock worth $53,756,000 after acquiring an additional 35,003 shares during the period. Clark Capital Management Group Inc. increased 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 worth $46,613,000 after acquiring an additional 6,709 shares during the period. Northern Trust Corp increased its stake in Intercontinental Hotels Group by 3.2% during the 1st quarter. Northern Trust Corp now owns 150,918 shares of the company's stock valued at $16,539,000 after buying an additional 4,644 shares during the period. Finally, GAMMA Investing LLC increased its stake in Intercontinental Hotels Group by 9,964.5% during the 1st quarter. GAMMA Investing LLC now owns 146,741 shares of the company's stock valued at $160,810,000 after buying an additional 145,283 shares during the period. Institutional investors and hedge funds own 15.09% of the company's stock.

Intercontinental Hotels Group Trading Up 1.1%

Shares of IHG traded up $1.28 during midday trading on Wednesday, hitting $122.10. The stock had a trading volume of 32,289 shares, compared to its average volume of 228,061. Intercontinental Hotels Group has a fifty-two week low of $94.78 and a fifty-two week high of $137.25. The business has a 50-day simple moving average of $118.04 and a two-hundred day simple moving average of $116.19. The firm has a market cap of $18.79 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be given a dividend of $0.566 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group's payout ratio is presently 20.04%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Intercontinental Hotels Group Company 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.