Intercontinental Hotels Group (NYSE:IHG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a buy rating in a report issued on Saturday morning.

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG opened at $122.58 on Friday. Intercontinental Hotels Group has a 52-week low of $94.78 and a 52-week high of $137.25. The business has a fifty day moving average of $118.89 and a two-hundred day moving average of $115.71. The stock has a market cap of $18.86 billion, a PE ratio of 21.73, a PEG ratio of 1.69 and a beta of 1.27.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.566 per share. This represents a yield of 140.0%. The ex-dividend date of this dividend is Friday, August 22nd. Intercontinental Hotels Group’s dividend payout ratio is currently 20.04%.

Institutional Investors Weigh In On Intercontinental Hotels Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP bought a new position in Intercontinental Hotels Group in the 4th quarter valued at $1,393,000. Stifel Financial Corp raised its holdings in shares of Intercontinental Hotels Group by 3.2% in the fourth quarter. Stifel Financial Corp now owns 18,152 shares of the company’s stock valued at $2,268,000 after buying an additional 571 shares during the last quarter. Northern Trust Corp lifted its position in Intercontinental Hotels Group by 61.0% during the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company’s stock worth $18,273,000 after buying an additional 55,404 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Intercontinental Hotels Group during the 4th quarter worth about $3,939,000. Finally, Rehmann Capital Advisory Group grew its holdings in Intercontinental Hotels Group by 8.3% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,240 shares of the company’s stock worth $405,000 after acquiring an additional 249 shares during the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group Company 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.