InterContinental Hotels Group PLC (NYSE:IHG – Get Free Report)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $114.33 and last traded at $114.32, with a volume of 4620 shares traded. The stock had previously closed at $113.75.
Analyst Upgrades and Downgrades
Separately, The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Read Our Latest Research Report on IHG
InterContinental Hotels Group Price Performance
InterContinental Hotels Group Increases Dividend
The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th were issued a $0.532 dividend. The ex-dividend date was Friday, August 30th. This represents a yield of 1.6%. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. InterContinental Hotels Group’s payout ratio is currently 21.54%.
Institutional Investors Weigh In On InterContinental Hotels Group
Several institutional investors have recently made changes to their positions in IHG. Bank of Montreal Can acquired a new position in InterContinental Hotels Group in the 2nd quarter valued at $3,892,000. BNP Paribas Financial Markets boosted its stake in shares of InterContinental Hotels Group by 130.0% during the first quarter. BNP Paribas Financial Markets now owns 36,288 shares of the company’s stock valued at $3,834,000 after purchasing an additional 20,511 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of InterContinental Hotels Group by 2.8% in the second 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. Henry James International Management Inc. raised its holdings in InterContinental Hotels Group by 13.1% in the 1st quarter. Henry James International Management Inc. now owns 121,475 shares of the company’s stock valued at $13,000,000 after buying an additional 14,071 shares during the last quarter. Finally, Capital Wealth Planning LLC grew its holdings in InterContinental Hotels Group by 125.2% during the 2nd quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock worth $2,570,000 after acquiring an additional 13,487 shares during the last quarter. 15.09% of the stock is currently 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.
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