Intercontinental Hotels Group (NYSE:IHG) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Intercontinental Hotels Group (NYSE:IHG) have received an average recommendation of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company.

Separately, Wall Street Zen raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Saturday, August 30th.

Intercontinental Hotels Group Trading Up 0.4%

NYSE IHG opened at $118.74 on Wednesday. The company has a fifty day simple moving average of $119.83 and a 200 day simple moving average of $115.20. The company has a market cap of $18.19 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.68 and a beta of 1.27. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $137.25.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be issued a dividend of $0.566 per share. This represents a dividend 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%.

Hedge Funds Weigh In On Intercontinental Hotels Group

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in Intercontinental Hotels Group by 4.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company’s stock valued at $232,000 after purchasing an additional 96 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Intercontinental Hotels Group during the 1st quarter valued at $276,000. Northern Trust Corp raised its stake in Intercontinental Hotels Group by 3.2% during the 1st quarter. Northern Trust Corp now owns 150,918 shares of the company’s stock valued at $16,539,000 after purchasing an additional 4,644 shares during the last quarter. XTX Topco Ltd acquired a new position in Intercontinental Hotels Group during the 1st quarter valued at $1,650,000. Finally, Cetera Investment Advisers raised its stake in Intercontinental Hotels Group by 27.5% during the 4th quarter. Cetera Investment Advisers now owns 11,593 shares of the company’s stock valued at $1,448,000 after purchasing an additional 2,498 shares during the last quarter. 15.09% of the stock is currently 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.