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

InterContinental Hotels Group PLC (NYSE:IHG) has received a consensus recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company.

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

Institutional Investors Weigh In On InterContinental Hotels Group

Several hedge funds have recently added to or reduced their stakes in the business. Natixis Advisors LLC lifted its holdings in shares of InterContinental Hotels Group by 2.8% in the 2nd quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock valued at $77,984,000 after buying an additional 20,280 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in InterContinental Hotels Group by 41.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after acquiring an additional 185,045 shares during the period. Raymond James & Associates boosted its position in InterContinental Hotels Group by 1.2% in the 2nd quarter. Raymond James & Associates now owns 123,232 shares of the company’s stock worth $13,056,000 after purchasing an additional 1,475 shares in the last quarter. Henry James International Management Inc. grew its stake in shares of InterContinental Hotels Group by 13.1% during the 1st quarter. Henry James International Management Inc. now owns 121,475 shares of the company’s stock worth $13,000,000 after purchasing an additional 14,071 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of InterContinental Hotels Group by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock valued at $6,179,000 after purchasing an additional 3,431 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Price Performance

Shares of IHG stock opened at $111.38 on Wednesday. The business has a fifty day moving average of $100.74 and a 200 day moving average of $101.98. InterContinental Hotels Group has a 1 year low of $70.06 and a 1 year high of $112.08. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, August 30th will be issued a dividend of $0.532 per share. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. InterContinental Hotels Group’s dividend payout ratio (DPR) is 21.63%.

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.