Intercontinental Hotels Group $IHG Shares Acquired by Quantbot Technologies LP

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 holdings in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 15.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,661 shares of the company's stock after purchasing an additional 2,279 shares during the period. Quantbot Technologies LP's holdings in Intercontinental Hotels Group were worth $1,826,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Natixis Advisors LLC raised its stake in Intercontinental Hotels Group by 2.8% during 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 in the last quarter. Bank of America Corp DE raised its stake in Intercontinental Hotels Group by 8.9% during the fourth quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock valued at $53,756,000 after purchasing an additional 35,003 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in Intercontinental Hotels Group by 1.8% during the fourth 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 in the last quarter. Northern Trust Corp raised its stake in Intercontinental Hotels Group by 3.2% during the first quarter. Northern Trust Corp now owns 150,918 shares of the company's stock valued at $16,539,000 after purchasing an additional 4,644 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Intercontinental Hotels Group by 9,964.5% during the first 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 in the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Friday. Two equities 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold".

Intercontinental Hotels Group Stock Performance

Intercontinental Hotels Group stock traded up $2.61 during trading on Friday, reaching $122.63. The company had a trading volume of 150,375 shares, compared to its average volume of 209,761. The firm's 50-day simple moving average is $117.71 and its 200 day simple moving average is $116.26. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The firm has a market capitalization of $18.88 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

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

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.