Rehmann Capital Advisory Group Sells 541 Shares of Intercontinental Hotels Group $IHG

Rehmann Capital Advisory Group lessened its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 17.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,526 shares of the company’s stock after selling 541 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Intercontinental Hotels Group were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC boosted its position in Intercontinental Hotels Group by 117.7% during the second quarter. Verdence Capital Advisors LLC now owns 4,619 shares of the company’s stock worth $533,000 after purchasing an additional 2,497 shares during the period. Atria Wealth Solutions Inc. boosted its position in Intercontinental Hotels Group by 50.2% during the second quarter. Atria Wealth Solutions Inc. now owns 5,215 shares of the company’s stock worth $601,000 after purchasing an additional 1,744 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Intercontinental Hotels Group by 12.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,533 shares of the company’s stock worth $1,346,000 after purchasing an additional 1,281 shares during the period. Wealthstar Advisors LLC boosted its position in Intercontinental Hotels Group by 23.1% during the second quarter. Wealthstar Advisors LLC now owns 4,559 shares of the company’s stock worth $526,000 after purchasing an additional 857 shares during the period. Finally, Callan Family Office LLC boosted its position in Intercontinental Hotels Group by 51.2% during the second quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock worth $1,046,000 after purchasing an additional 3,071 shares during the period. Institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IHG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Morgan Stanley raised shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. Wall Street Zen raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Finally, JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Intercontinental Hotels Group presently has an average rating of “Hold”.

Intercontinental Hotels Group Stock Performance

IHG stock opened at $124.37 on Friday. The company has a market capitalization of $18.96 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The company’s 50 day moving average price is $121.62 and its two-hundred day moving average price is $117.07.

Intercontinental Hotels Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd were paid a dividend of $0.566 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a dividend yield of 140.0%. Intercontinental Hotels Group’s dividend payout ratio (DPR) is 20.04%.

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.