Corient Private Wealth LLC Acquires 3,242 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Corient Private Wealth LLC grew its holdings in InterContinental Hotels Group PLC (NYSE:IHG) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,891 shares of the company’s stock after acquiring an additional 3,242 shares during the quarter. Corient Private Wealth LLC’s holdings in InterContinental Hotels Group were worth $4,234,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IHG. Richardson Financial Services Inc. bought a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC lifted its position in InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock worth $31,000 after purchasing an additional 101 shares during the period. SBI Securities Co. Ltd. bought a new stake in InterContinental Hotels Group during the fourth quarter worth about $42,000. Venturi Wealth Management LLC bought a new stake in InterContinental Hotels Group during the fourth quarter worth about $72,000. Finally, Smartleaf Asset Management LLC lifted its position in InterContinental Hotels Group by 419.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock worth $72,000 after purchasing an additional 461 shares during the period. Institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Trading Down 2.7 %

Shares of NYSE IHG opened at $109.65 on Friday. The company has a market cap of $17.26 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a 12 month low of $91.57 and a 12 month high of $137.25. The stock has a 50-day moving average price of $126.41 and a two-hundred day moving average price of $120.30.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.144 per share. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.4%. InterContinental Hotels Group’s payout ratio is presently 39.36%.

Analysts Set New Price Targets

Several research firms recently weighed in on IHG. Morgan Stanley cut shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Finally, Citigroup assumed coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

About InterContinental Hotels Group

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.