Intercontinental Hotels Group (NYSE:IHG) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• IHG shares climbed above their 200-day moving average of $150.45, reaching $163.00 before last trading at approximately $161.51, up 1.3%.
• Analyst views remain mixed, but the stock carries a consensus “Moderate Buy” rating with an average price target of $174.50; Jefferies raised its target to $195, while Zacks downgraded the shares to “Strong Sell.”
• IHG declared a $0.645 per-share dividend payable October 1 to shareholders of record August 21, while institutional investors and hedge funds own approximately 15.09% of the stock.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $150.45 and traded as high as $163.00. Intercontinental Hotels Group shares last traded at $161.5050, with a volume of 132,743 shares.

Analysts Set New Price Targets

Several research analysts recently commented on IHG shares. Jefferies Financial Group raised their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a report on Friday, June 26th. Zacks Research downgraded shares of Intercontinental Hotels Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Finally, Sanford C. Bernstein upped their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a "market perform" rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Intercontinental Hotels Group Trading Up 1.3%

The firm has a fifty day moving average of $163.58 and a 200 day moving average of $150.45.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 21st will be given a $0.645 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a yield of 83.0%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Morgan Stanley grew its holdings in Intercontinental Hotels Group by 3.9% during the 4th quarter. Morgan Stanley now owns 764,049 shares of the company's stock valued at $107,601,000 after purchasing an additional 28,526 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Intercontinental Hotels Group by 1.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company's stock worth $100,006,000 after buying an additional 9,235 shares in the last quarter. Bank of America Corp DE boosted its position in Intercontinental Hotels Group by 0.8% in the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company's stock valued at $60,835,000 after buying an additional 4,080 shares during the last quarter. Natixis Advisors LLC boosted its position in Intercontinental Hotels Group by 3.9% in the 4th quarter. Natixis Advisors LLC now owns 465,747 shares of the company's stock valued at $65,591,000 after buying an additional 17,503 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Intercontinental Hotels Group by 29.5% during the third quarter. Lazard Asset Management LLC now owns 460,897 shares of the company's stock valued at $55,888,000 after acquiring an additional 105,034 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

About Intercontinental Hotels Group

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.

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