Intercontinental Hotels Group (NYSE:IHG) Hits New 12-Month High – Time to Buy?

Intercontinental Hotels Group (NYSE:IHG)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $157.69 and last traded at $157.0060, with a volume of 48386 shares trading hands. The stock had previously closed at $154.31.

Analyst Ratings Changes

Separately, Sanford C. Bernstein boosted their price target on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Intercontinental Hotels Group Stock Up 2.4%

The stock’s fifty day simple moving average is $141.80 and its 200-day simple moving average is $138.96.

Intercontinental Hotels Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, May 14th. Investors of record on Friday, April 10th were paid a $1.259 dividend. The ex-dividend date was Friday, April 10th. This represents a yield of 178.0%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in shares of Intercontinental Hotels Group by 25.0% during the first quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock worth $12,448,000 after purchasing an additional 18,631 shares during the period. Renaissance Technologies LLC increased its holdings in Intercontinental Hotels Group by 198.5% in the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock worth $8,088,000 after buying an additional 40,300 shares during the period. Compound Planning Inc. raised its position in Intercontinental Hotels Group by 5.4% during the 1st quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock worth $226,000 after buying an additional 87 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Intercontinental Hotels Group by 55.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after acquiring an additional 145,360 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Intercontinental Hotels Group by 23.7% in the 1st quarter. Sei Investments Co. now owns 4,962 shares of the company’s stock valued at $662,000 after acquiring an additional 952 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.