InterContinental Hotels Group PLC (NYSE:IHG) Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 503,980 shares of the company’s stock after selling 22,165 shares during the quarter. Royal Bank of Canada’s holdings in InterContinental Hotels Group were worth $62,957,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new position in InterContinental Hotels Group in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its holdings in InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. SBI Securities Co. Ltd. acquired a new position in InterContinental Hotels Group in the fourth quarter valued at approximately $42,000. Smartleaf Asset Management LLC lifted its holdings in InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after acquiring an additional 461 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in InterContinental Hotels Group in the fourth quarter valued at approximately $72,000. 15.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IHG. Citigroup began coverage on InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating for the company. Deutsche Bank Aktiengesellschaft upgraded InterContinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, InterContinental Hotels Group currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

InterContinental Hotels Group stock opened at $120.60 on Wednesday. The stock has a market capitalization of $18.76 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34. InterContinental Hotels Group PLC has a 12 month low of $91.57 and a 12 month high of $137.25. The business has a 50 day simple moving average of $109.61 and a 200-day simple moving average of $120.42.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 4th were given a $1.144 dividend. The ex-dividend date was Friday, April 4th. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. InterContinental Hotels Group’s payout ratio is 39.36%.

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.