InterContinental Hotels Group PLC (NYSE:IHG) Receives Average Rating of “Hold” from Brokerages

Shares of InterContinental Hotels Group PLC (NYSE:IHG) have been given an average rating of “Hold” by the five research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company.

Separately, The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th.

InterContinental Hotels Group Price Performance

Shares of InterContinental Hotels Group stock opened at $121.10 on Thursday. The firm has a fifty day moving average price of $109.45 and a two-hundred day moving average price of $104.26. InterContinental Hotels Group has a fifty-two week low of $72.51 and a fifty-two week high of $121.54.

InterContinental Hotels Group Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th were given a $0.532 dividend. This represents a yield of 1.6%. This is a boost from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. The ex-dividend date was Friday, August 30th.

Hedge Funds Weigh In On InterContinental Hotels Group

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of InterContinental Hotels Group by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock worth $35,000 after buying an additional 106 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in InterContinental Hotels Group by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock valued at $1,337,000 after purchasing an additional 106 shares in the last quarter. GAMMA Investing LLC raised its position in InterContinental Hotels Group by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,008 shares of the company’s stock valued at $107,000 after purchasing an additional 135 shares during the last quarter. QRG Capital Management Inc. boosted its stake in InterContinental Hotels Group by 0.6% in the third quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock worth $3,056,000 after purchasing an additional 152 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of InterContinental Hotels Group by 7.2% during the second quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock valued at $244,000 after purchasing an additional 154 shares during the last quarter. 15.09% of the stock is owned by institutional investors.

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.