Shares of InterContinental Hotels Group PLC (NYSE:IHG – Get Free Report) have earned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2,750.00.
A number of equities research analysts recently weighed in on the company. BNP Paribas cut InterContinental Hotels Group from a “neutral” rating to an “underperform” rating in a research note on Wednesday, October 11th. StockNews.com assumed coverage on InterContinental Hotels Group in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Bank of America assumed coverage on InterContinental Hotels Group in a research report on Tuesday, September 19th. They set a “buy” rating on the stock.
InterContinental Hotels Group Stock Performance
InterContinental Hotels Group Cuts Dividend
The business also recently declared a semi-annual dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 1st were given a $0.483 dividend. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 31st.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of InterContinental Hotels Group by 1.8% in the second quarter. Signaturefd LLC now owns 7,642 shares of the company’s stock worth $538,000 after purchasing an additional 138 shares during the period. Moors & Cabot Inc. boosted its stake in InterContinental Hotels Group by 3.9% in the second quarter. Moors & Cabot Inc. now owns 4,184 shares of the company’s stock valued at $295,000 after buying an additional 156 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in InterContinental Hotels Group by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 8,876 shares of the company’s stock valued at $625,000 after buying an additional 191 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in InterContinental Hotels Group by 7.1% in the second quarter. Quadrant Capital Group LLC now owns 2,985 shares of the company’s stock valued at $210,000 after buying an additional 198 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in InterContinental Hotels Group by 1.8% in the second quarter. LPL Financial LLC now owns 11,230 shares of the company’s stock valued at $791,000 after buying an additional 203 shares in the last quarter. Institutional investors own 5.91% of the company’s stock.
About InterContinental Hotels Group
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.
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