First Trust Advisors LP Makes New Investment in InterContinental Hotels Group PLC (NYSE:IHG)

First Trust Advisors LP purchased a new stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,151 shares of the company's stock, valued at approximately $1,393,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IHG. Farringdon Capital Ltd. purchased a new stake in InterContinental Hotels Group in the 4th quarter worth approximately $214,000. Marshall Wace LLP purchased a new stake in shares of InterContinental Hotels Group in the fourth quarter worth $4,942,000. NewEdge Advisors LLC boosted its stake in InterContinental Hotels Group by 6.9% during the fourth quarter. NewEdge Advisors LLC now owns 6,764 shares of the company's stock valued at $845,000 after buying an additional 438 shares during the period. United Capital Financial Advisors LLC grew its position in InterContinental Hotels Group by 7.1% during the fourth quarter. United Capital Financial Advisors LLC now owns 3,181 shares of the company's stock worth $397,000 after buying an additional 212 shares in the last quarter. Finally, Mariner LLC increased its stake in InterContinental Hotels Group by 6.8% in the 4th quarter. Mariner LLC now owns 8,166 shares of the company's stock worth $1,020,000 after acquiring an additional 519 shares during the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Stock Down 0.4 %

Shares of NYSE:IHG opened at $113.60 on Wednesday. The company's fifty day moving average is $109.64 and its 200 day moving average is $119.88. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25. The stock has a market cap of $17.72 billion, a PE ratio of 20.14, a PEG ratio of 1.69 and a beta of 1.34.

InterContinental Hotels Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be paid a $1.144 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 4th. This is a positive change from InterContinental Hotels Group's previous semi-annual dividend of $0.53. InterContinental Hotels Group's payout ratio is 39.36%.

Analyst Ratings Changes

Several research analysts have recently commented on IHG shares. Morgan Stanley lowered InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 8th. Citigroup initiated coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of InterContinental Hotels Group from a "sell" rating to a "hold" rating in a research report on Monday, April 14th. Finally, Sanford C. Bernstein upgraded InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research report on Friday, January 10th. 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 stock. According to data from MarketBeat.com, InterContinental Hotels Group presently has a consensus rating of "Hold".

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.

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 PLC (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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.