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 increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 57,906.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,281 shares of the company’s stock after purchasing an additional 9,265 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in InterContinental Hotels Group were worth $1,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IHG. Richardson Financial Services Inc. bought a new position in shares of InterContinental Hotels Group in the 4th quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in shares of InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after buying an additional 101 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of InterContinental Hotels Group during the fourth quarter worth about $42,000. Venturi Wealth Management LLC acquired a new stake in shares of InterContinental Hotels Group in the 4th quarter worth about $72,000. Finally, Smartleaf Asset Management LLC lifted its position in InterContinental Hotels Group by 419.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after acquiring an additional 461 shares in the last quarter. Institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

IHG has been the subject of several analyst reports. Citigroup started coverage on InterContinental Hotels Group in a research note on Monday, February 24th. They issued a “sell” rating for the company. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised shares of InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Finally, Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 2.6 %

IHG stock opened at $102.84 on Wednesday. The firm has a market cap of $16.16 billion, a PE ratio of 18.23, a P/E/G ratio of 1.69 and a beta of 1.29. The business has a 50 day moving average of $113.44 and a 200-day moving average of $120.09. InterContinental Hotels Group PLC has a 12-month low of $91.57 and a 12-month high of $137.25.

InterContinental Hotels Group Increases Dividend

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

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.