InterContinental Hotels Group (NYSE:IHG) Stock Crosses Above 200 Day Moving Average of $90.35

InterContinental Hotels Group PLC (NYSE:IHG)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $90.35 and traded as high as $100.38. InterContinental Hotels Group shares last traded at $98.17, with a volume of 153,824 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on IHG shares. Societe Generale lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. StockNews.com lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Jefferies Financial Group lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Sanford C. Bernstein lowered InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, InterContinental Hotels Group has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

The stock has a 50-day moving average of $103.65 and a 200 day moving average of $90.35.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 5th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 4th. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.48. This represents a dividend yield of 1.4%.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of large investors have recently modified their holdings of IHG. CWM LLC raised its holdings in shares of InterContinental Hotels Group by 621.2% during the 3rd quarter. CWM LLC now owns 375 shares of the company’s stock worth $28,000 after acquiring an additional 323 shares during the period. Allworth Financial LP grew its stake in InterContinental Hotels Group by 1,900.0% during the 3rd quarter. Allworth Financial LP now owns 780 shares of the company’s stock worth $58,000 after purchasing an additional 741 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in InterContinental Hotels Group in the third quarter valued at approximately $73,000. GAMMA Investing LLC purchased a new stake in shares of InterContinental Hotels Group during the 4th quarter worth $74,000. Finally, Parallel Advisors LLC boosted its position in shares of InterContinental Hotels Group by 15.8% during the 4th quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock worth $75,000 after acquiring an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 15.09% 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, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.