Highland Capital Management LLC Trims Stock Holdings in Intercontinental Hotels Group $IHG

Highland Capital Management LLC trimmed its stake in shares of Intercontinental Hotels Group (NYSE:IHG) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,682 shares of the company’s stock after selling 458 shares during the quarter. Highland Capital Management LLC’s holdings in Intercontinental Hotels Group were worth $1,924,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Aaron Wealth Advisors LLC increased its position in shares of Intercontinental Hotels Group by 4.5% in the first quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company’s stock worth $246,000 after purchasing an additional 96 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Intercontinental Hotels Group by 4.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company’s stock worth $232,000 after acquiring an additional 96 shares during the last quarter. TD Private Client Wealth LLC raised its position in Intercontinental Hotels Group by 48.7% during the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Finally, Freedom Investment Management Inc. boosted its stake in shares of Intercontinental Hotels Group by 4.4% during the 1st quarter. Freedom Investment Management Inc. now owns 3,929 shares of the company’s stock valued at $431,000 after purchasing an additional 166 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Trading Up 0.6%

NYSE IHG opened at $123.92 on Monday. The company’s 50-day moving average price is $120.45 and its 200-day moving average price is $115.64. The stock has a market cap of $18.92 billion, a PE ratio of 21.97, a PEG ratio of 1.76 and a beta of 1.24. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $137.25.

Intercontinental Hotels Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IHG. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Wall Street Zen upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

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.