Raymond James Financial Inc. Takes $13.80 Million Position in InterContinental Hotels Group PLC (NYSE:IHG)

Raymond James Financial Inc. acquired a new stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,439 shares of the company's stock, valued at approximately $13,796,000. Raymond James Financial Inc. owned about 0.07% of InterContinental Hotels Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in InterContinental Hotels Group in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in InterContinental Hotels Group during the fourth quarter valued at $42,000. Venturi Wealth Management LLC purchased a new position in InterContinental Hotels Group during the fourth quarter worth about $72,000. Smartleaf Asset Management LLC increased its stake in InterContinental Hotels Group by 419.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock worth $72,000 after acquiring an additional 461 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of InterContinental Hotels Group in the third quarter worth approximately $86,000. Institutional investors own 15.09% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on IHG. 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 started coverage on InterContinental Hotels Group in a report on Monday, February 24th. They set a "sell" rating on the stock. Sanford C. Bernstein raised InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research note on Friday, January 10th. Finally, Morgan Stanley downgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, InterContinental Hotels Group has an average rating of "Hold".

InterContinental Hotels Group Price Performance

InterContinental Hotels Group stock traded up $0.95 during trading hours on Friday, reaching $106.39. The stock had a trading volume of 268,666 shares, compared to its average volume of 188,768. The stock has a market cap of $16.63 billion, a PE ratio of 18.86, a PEG ratio of 1.69 and a beta of 1.29. The company has a fifty day simple moving average of $111.82 and a 200-day simple moving average of $119.91. 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. Shareholders of record on Friday, April 4th will be given a dividend of $1.144 per share. This is a positive change from InterContinental Hotels Group's previous semi-annual dividend of $0.53. The ex-dividend date is Friday, April 4th. This represents a yield of 1.4%. InterContinental Hotels Group's dividend payout ratio is presently 39.36%.

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.