Citigroup Inc. Decreases Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Citigroup Inc. reduced its position in InterContinental Hotels Group PLC (NYSE:IHG) by 6.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,649 shares of the company’s stock after selling 2,238 shares during the period. Citigroup Inc.’s holdings in InterContinental Hotels Group were worth $2,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of InterContinental Hotels Group in the 1st quarter valued at about $82,000. Captrust Financial Advisors raised its stake in shares of InterContinental Hotels Group by 22.0% in the 1st quarter. Captrust Financial Advisors now owns 1,211 shares of the company’s stock valued at $83,000 after purchasing an additional 218 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in InterContinental Hotels Group by 1,067.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,194 shares of the company’s stock worth $107,000 after acquiring an additional 2,006 shares during the period. UBS Group AG raised its stake in InterContinental Hotels Group by 103.7% during the third quarter. UBS Group AG now owns 3,448 shares of the company’s stock worth $167,000 after acquiring an additional 1,755 shares during the period. Finally, Raymond James & Associates acquired a new stake in InterContinental Hotels Group during the first quarter worth about $201,000. 5.91% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Trading Up 0.4 %

InterContinental Hotels Group stock opened at $76.83 on Thursday. InterContinental Hotels Group PLC has a twelve month low of $47.06 and a twelve month high of $78.44. The company has a 50 day moving average of $73.62 and a 200-day moving average of $70.04.

InterContinental Hotels Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 1st will be given a $0.483 dividend. This represents a dividend yield of 1.9%. The ex-dividend date is Thursday, August 31st.

Analysts Set New Price Targets

Several brokerages have commented on IHG. StockNews.com upgraded shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Kepler Capital Markets cut shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5,466.67.

InterContinental Hotels Group 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, avid, Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, and Candlewood Suites brand names.