Verdence Capital Advisors LLC grew its stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 117.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,619 shares of the company's stock after buying an additional 2,497 shares during the period. Verdence Capital Advisors LLC's holdings in Intercontinental Hotels Group were worth $533,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in IHG. Janney Montgomery Scott LLC acquired a new position in shares of Intercontinental Hotels Group during the first quarter valued at about $276,000. Blue Trust Inc. raised its position in Intercontinental Hotels Group by 32.4% in the first quarter. Blue Trust Inc. now owns 3,763 shares of the company's stock worth $412,000 after purchasing an additional 920 shares in the last quarter. Golden State Wealth Management LLC raised its position in Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Intercontinental Hotels Group by 4.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock worth $232,000 after purchasing an additional 96 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in Intercontinental Hotels Group by 4.5% in the first quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company's stock worth $246,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.
Analyst Ratings Changes
Several research analysts recently issued reports on IHG shares. Wall Street Zen lowered shares of Intercontinental Hotels Group from a "buy" rating to a "hold" rating in a research report on Saturday. 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".
Read Our Latest Stock Analysis on IHG
Intercontinental Hotels Group Price Performance
IHG opened at $122.11 on Wednesday. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The company's 50 day simple moving average is $121.36 and its 200-day simple moving average is $116.19. The stock has a market capitalization of $18.64 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24.
Intercontinental Hotels Group Cuts Dividend
The business also recently declared a semi-annual dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, August 22nd were paid a dividend of $0.566 per share. This represents a dividend yield of 140.0%. The ex-dividend date of this dividend was Friday, August 22nd. Intercontinental Hotels Group's dividend payout ratio is 20.04%.
Intercontinental Hotels Group Profile
(
Free Report)
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.
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