Ritholtz Wealth Management Sells 2,700 Shares of Intercontinental Hotels Group $IHG

Key Points

• Ritholtz Wealth Management has reduced its stake in Intercontinental Hotels Group (IHG) by **23.3%**, selling **2,700 shares** and now holding **8,902 shares** valued at approximately **$1,027,000**.
• Several institutional investors, including **Aaron Wealth Advisors** and **Allspring Global Investments**, have increased their positions in IHG during the 1st quarter, reflecting **growing interest** in the company.
• Analyst ratings for IHG show mixed sentiment, with **three analysts recommending a Buy**, three advising a Hold, and one issuing a Sell rating, resulting in a consensus rating of **Hold**.

Ritholtz Wealth Management decreased its holdings in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,902 shares of the company's stock after selling 2,700 shares during the quarter. Ritholtz Wealth Management's holdings in Intercontinental Hotels Group were worth $1,027,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Aaron Wealth Advisors LLC lifted its position in Intercontinental Hotels Group by 4.5% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company's stock valued at $246,000 after acquiring an additional 96 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Intercontinental Hotels Group by 4.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock valued at $232,000 after acquiring an additional 96 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Intercontinental Hotels Group by 48.7% in the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after buying an additional 114 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its position in shares of Intercontinental Hotels Group by 4.4% during the 1st quarter. Freedom Investment Management Inc. now owns 3,929 shares of the company's stock worth $431,000 after buying an additional 166 shares in the last quarter. Institutional investors own 15.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a "neutral" rating to an "overweight" rating in a research report on Friday, September 26th. Morgan Stanley raised shares of Intercontinental Hotels Group from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Intercontinental Hotels Group from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold".

Intercontinental Hotels Group Trading Up 1.7%

NYSE:IHG opened at $120.69 on Friday. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $137.25. The stock has a market capitalization of $18.42 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The firm's 50 day moving average is $121.36 and its 200 day moving average is $116.36.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, August 22nd were paid a $0.566 dividend. This represents a yield of 140.0%. The ex-dividend date was Friday, August 22nd. Intercontinental Hotels Group's payout ratio is currently 20.04%.

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.

Want to see what other hedge funds are holding IHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Hotels Group (NYSE:IHG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.