Zions Bancorporation National Association UT Purchases Shares of 3,880 Intercontinental Hotels Group (NYSE:IHG)

Key Points

• Zions Bancorporation National Association UT has purchased 3,880 shares of Intercontinental Hotels Group, amounting to approximately $425,000 in new investment during the first quarter.
• Institutional investors now own 15.09% of Intercontinental Hotels Group's stock, with notable increases in holdings from firms such as Russell Investments Group and Renaissance Technologies.
• Analysts have shifted the rating for Intercontinental Hotels Group from "sell" to "hold" according to recent reports, indicating a more cautious outlook on the company's stock performance.

Zions Bancorporation National Association UT bought a new stake in Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,880 shares of the company's stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IHG. Golden State Wealth Management LLC increased its stake in shares of Intercontinental Hotels Group by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. grew its holdings in Intercontinental Hotels Group by 186.3% during the first quarter. Whittier Trust Co. now owns 272 shares of the company's stock valued at $30,000 after purchasing an additional 177 shares during the period. TD Private Client Wealth LLC increased its stake in Intercontinental Hotels Group by 48.7% in the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc increased its stake in Intercontinental Hotels Group by 722.4% in the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company's stock valued at $141,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Intercontinental Hotels Group by 67.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company's stock worth $176,000 after purchasing an additional 570 shares during the period. Institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Trading Up 0.7%

Shares of NYSE IHG traded up $0.83 during mid-day trading on Wednesday, reaching $121.58. 120,584 shares of the company's stock were exchanged, compared to its average volume of 203,611. Intercontinental Hotels Group has a twelve month low of $93.95 and a twelve month high of $137.25. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.72 and a beta of 1.33. The business has a fifty day simple moving average of $116.89 and a 200 day simple moving average of $117.13.

Intercontinental Hotels Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be paid a $0.566 dividend. The ex-dividend date is Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group's payout ratio is presently 39.54%.

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.