Envestnet Asset Management Inc. Grows Stock Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Envestnet Asset Management Inc. raised its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 6.3% during the second quarter, Holdings Channel reports. The firm owned 58,321 shares of the company’s stock after purchasing an additional 3,431 shares during the period. Envestnet Asset Management Inc.’s holdings in InterContinental Hotels Group were worth $6,179,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Scotia Capital Inc. increased its position in shares of InterContinental Hotels Group by 259.2% in the 4th quarter. Scotia Capital Inc. now owns 36,567 shares of the company’s stock worth $3,334,000 after purchasing an additional 26,386 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of InterContinental Hotels Group by 65.2% during the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 191 shares during the period. CIBC Private Wealth Group LLC increased its stake in InterContinental Hotels Group by 41.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after buying an additional 185,045 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in InterContinental Hotels Group in the 1st quarter valued at approximately $1,163,000. Finally, BNP Paribas Financial Markets increased its stake in InterContinental Hotels Group by 130.0% in the 1st quarter. BNP Paribas Financial Markets now owns 36,288 shares of the company’s stock valued at $3,834,000 after buying an additional 20,511 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, InterContinental Hotels Group currently has a consensus rating of “Hold”.

InterContinental Hotels Group Trading Up 0.4 %

Shares of NYSE IHG opened at $113.17 on Monday. InterContinental Hotels Group PLC has a 1-year low of $70.06 and a 1-year high of $114.20. The company has a market cap of $18.29 billion, a PE ratio of 23.10, a P/E/G ratio of 1.67 and a beta of 1.31. The company has a 50-day moving average of $101.03 and a two-hundred day moving average of $102.09.

InterContinental Hotels Group Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th will be paid a $0.532 dividend. This represents a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. InterContinental Hotels Group’s dividend payout ratio is presently 21.63%.

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.