Royal Bank of Canada Sells 22,165 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Royal Bank of Canada lowered its position in InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 503,980 shares of the company's stock after selling 22,165 shares during the period. Royal Bank of Canada owned 0.32% of InterContinental Hotels Group worth $62,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Entropy Technologies LP purchased a new stake in InterContinental Hotels Group in the fourth quarter worth $262,000. Northern Trust Corp grew its position in shares of InterContinental Hotels Group by 61.0% in the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company's stock worth $18,273,000 after buying an additional 55,404 shares during the period. Raymond James Financial Inc. bought a new position in shares of InterContinental Hotels Group in the 4th quarter worth about $13,796,000. Atria Wealth Solutions Inc. lifted its position in InterContinental Hotels Group by 40.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 5,545 shares of the company's stock valued at $693,000 after acquiring an additional 1,606 shares during the period. Finally, Wealthstar Advisors LLC bought a new stake in InterContinental Hotels Group during the fourth quarter worth about $497,000. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IHG. Deutsche Bank Aktiengesellschaft raised shares of InterContinental Hotels Group from a "sell" rating to a "hold" rating in a research note on Monday, April 14th. Citigroup began coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold".

InterContinental Hotels Group Trading Down 0.2%

NYSE:IHG traded down $0.26 during trading hours on Monday, reaching $117.49. The company had a trading volume of 215,825 shares, compared to its average volume of 192,885. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.69 and a beta of 1.34. The firm's 50 day moving average price is $109.87 and its 200-day moving average price is $120.50. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 4th were given a dividend of $1.144 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. InterContinental Hotels Group's dividend payout ratio is 39.36%.

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.