Fmr LLC Lowers Position in InterContinental Hotels Group PLC (NYSE:IHG)

Fmr LLC reduced its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,347,835 shares of the company’s stock after selling 39,690 shares during the period. Fmr LLC owned approximately 4.01% of InterContinental Hotels Group worth $792,972,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in InterContinental Hotels Group during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 101 shares during the period. SBI Securities Co. Ltd. acquired a new position in InterContinental Hotels Group during the fourth quarter worth $42,000. Venturi Wealth Management LLC acquired a new stake in InterContinental Hotels Group in the fourth quarter valued at $72,000. Finally, Smartleaf Asset Management LLC lifted its holdings in InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IHG. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded 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 assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Down 3.9 %

Shares of IHG stock opened at $97.17 on Tuesday. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25. The business has a fifty day simple moving average of $122.09 and a 200-day simple moving average of $121.01. The stock has a market cap of $15.27 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.69 and a beta of 1.29.

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 given a dividend of $1.144 per share. The ex-dividend date is Friday, April 4th. This represents a 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 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.