TD Waterhouse Canada Inc. Grows Stock Position in Intercontinental Hotels Group $IHG

Key Points

• TD Waterhouse Canada increased its IHG position by 179.7% during the second quarter, holding 16,306 shares valued at approximately $2.75 million. Institutional investors collectively own 15.09% of the company.
• IHG shares opened at $160.01, compared with a 52-week range of $117.29 to $175.89. The stock’s average analyst rating is “Moderate Buy,” with a consensus price target of $179.
• Analyst sentiment has improved, including UBS upgrading IHG to “buy” with a $188 target and Jefferies raising its target to $195. The company also declared a $0.645-per-share dividend, though the article’s reported 81.0% yield appears inconsistent with the share price.

TD Waterhouse Canada Inc. raised its position in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 179.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,306 shares of the company's stock after acquiring an additional 10,476 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Intercontinental Hotels Group were worth $2,747,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Intercontinental Hotels Group in the second quarter valued at $3,259,000. Gradient Investments LLC lifted its holdings in Intercontinental Hotels Group by 4.2% in the 2nd quarter. Gradient Investments LLC now owns 38,964 shares of the company's stock worth $6,745,000 after buying an additional 1,560 shares in the last quarter. Baron Wealth Management LLC acquired a new stake in shares of Intercontinental Hotels Group during the second quarter valued at about $236,000. GAMMA Investing LLC increased its position 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 worth $348,000 after acquiring an additional 70 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Intercontinental Hotels Group by 4.7% in the first quarter. NewEdge Advisors LLC now owns 8,207 shares of the company's stock worth $1,095,000 after acquiring an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Trading Up 0.0%

Shares of NYSE:IHG opened at $160.01 on Tuesday. The company's 50-day moving average price is $161.07 and its 200 day moving average price is $152.02. Intercontinental Hotels Group has a fifty-two week low of $117.29 and a fifty-two week high of $175.89.

Intercontinental Hotels Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on IHG. UBS Group upgraded Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 price objective on the stock in a report on Wednesday, September 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Sanford C. Bernstein upped their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a "market perform" rating in a report on Friday, May 15th. Zacks Research raised shares of Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Finally, Jefferies Financial Group boosted their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Hotels Group currently has an average rating of "Moderate Buy" and a consensus price target of $179.00.

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.