Kayne Anderson Rudnick Investment Management LLC Has $1.16 Million Stock Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 57,906.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,281 shares of the company's stock after acquiring an additional 9,265 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in InterContinental Hotels Group were worth $1,159,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IHG. Raymond James Financial Inc. acquired a new stake in shares of InterContinental Hotels Group during the fourth quarter worth approximately $13,796,000. ABC Arbitrage SA acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $11,846,000. Arrowstreet Capital Limited Partnership lifted its position in shares of InterContinental Hotels Group by 241.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the company's stock worth $15,965,000 after purchasing an additional 90,339 shares during the last quarter. World Investment Advisors LLC bought a new position in InterContinental Hotels Group in the third quarter worth $86,000. Finally, JPMorgan Chase & Co. boosted its holdings in InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company's stock valued at $35,388,000 after purchasing an additional 73,361 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IHG. Citigroup began coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They issued a "sell" rating on the stock. Sanford C. Bernstein upgraded InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a report on Friday, January 10th. Morgan Stanley lowered shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded InterContinental Hotels Group from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Two research 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold".

InterContinental Hotels Group Stock Performance

Shares of NYSE IHG traded up $0.42 during trading hours on Monday, reaching $106.64. 65,967 shares of the stock were exchanged, compared to its average volume of 240,214. The stock's fifty day simple moving average is $111.82 and its 200 day simple moving average is $120.03. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.69 and a beta of 1.29. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.144 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a dividend yield of 1.4%. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. InterContinental Hotels Group's payout ratio is 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.