Voloridge Investment Management LLC Trims Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Voloridge Investment Management LLC lowered its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 52.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,354 shares of the company's stock after selling 44,738 shares during the quarter. Voloridge Investment Management LLC's holdings in InterContinental Hotels Group were worth $5,166,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IHG. Independent Advisor Alliance increased its stake in shares of InterContinental Hotels Group by 0.8% during the 4th quarter. Independent Advisor Alliance now owns 9,674 shares of the company's stock worth $1,209,000 after purchasing an additional 76 shares during the last quarter. Denali Advisors LLC increased its position in InterContinental Hotels Group by 2.3% in the fourth quarter. Denali Advisors LLC now owns 3,870 shares of the company's stock worth $483,000 after buying an additional 87 shares during the last quarter. Farther Finance Advisors LLC increased its position in InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock worth $31,000 after buying an additional 101 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of InterContinental Hotels Group by 3.2% during the 4th quarter. Moors & Cabot Inc. now owns 4,415 shares of the company's stock worth $552,000 after acquiring an additional 136 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in InterContinental Hotels Group by 10.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,996 shares of the company's stock worth $245,000 after acquiring an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of InterContinental Hotels Group from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Citigroup assumed coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They set a "sell" rating on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold".

InterContinental Hotels Group Trading Down 1.4%

Shares of InterContinental Hotels Group stock traded down $1.63 on Friday, reaching $115.72. The stock had a trading volume of 206,081 shares, compared to its average volume of 237,688. The business's 50 day moving average is $110.38 and its two-hundred day moving average is $120.41. InterContinental Hotels Group PLC has a 1 year low of $91.57 and a 1 year high of $137.25. The company has a market cap of $18.00 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34.

InterContinental Hotels Group Increases Dividend

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

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.