InterContinental Hotels Group PLC (NYSE:IHG) Shares Sold by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC trimmed its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 24.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,228 shares of the company’s stock after selling 705 shares during the period. Gitterman Wealth Management LLC’s holdings in InterContinental Hotels Group were worth $278,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. FMR LLC grew its holdings in InterContinental Hotels Group by 5.8% in the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after buying an additional 351,723 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of InterContinental Hotels Group by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 698,150 shares of the company’s stock worth $87,213,000 after purchasing an additional 8,067 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after purchasing an additional 73,361 shares during the period. Raymond James Financial Inc. bought a new stake in shares of InterContinental Hotels Group during the fourth quarter valued at about $13,796,000. Finally, ABC Arbitrage SA acquired a new stake in InterContinental Hotels Group in the fourth quarter worth about $11,846,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on IHG shares. Citigroup initiated coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating on the stock. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold”.

InterContinental Hotels Group Trading Up 2.1 %

NYSE:IHG opened at $113.69 on Friday. The company has a 50-day moving average of $127.42 and a 200-day moving average of $120.03. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a twelve month low of $91.57 and a twelve month high of $137.25.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be issued a dividend of $1.144 per share. This represents a yield of 1.4%. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. The ex-dividend date of this dividend is Friday, April 4th. InterContinental Hotels Group’s dividend payout ratio (DPR) is presently 18.79%.

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.