InterContinental Hotels Group PLC (NYSE:IHG) Given Average Rating of “Reduce” by Analysts

Shares of InterContinental Hotels Group PLC (NYSE:IHG) have received an average rating of “Reduce” from the seven research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company.

Several analysts recently weighed in on the company. Sanford C. Bernstein downgraded InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 13th. Societe Generale downgraded shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Jefferies Financial Group cut shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, StockNews.com lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th.

InterContinental Hotels Group Price Performance

Shares of NYSE IHG opened at $100.75 on Friday. The business’s 50-day simple moving average is $103.96 and its 200-day simple moving average is $91.48. InterContinental Hotels Group has a 52 week low of $65.22 and a 52 week high of $112.08.

InterContinental Hotels Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 5th will be issued a dividend of $1.04 per share. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.48. This represents a yield of 1.4%. The ex-dividend date of this dividend is Thursday, April 4th.

Hedge Funds Weigh In On InterContinental Hotels Group

A number of institutional investors have recently modified their holdings of IHG. Raymond James & Associates lifted its position in InterContinental Hotels Group by 18.2% during the 1st quarter. Raymond James & Associates now owns 121,757 shares of the company’s stock valued at $12,865,000 after purchasing an additional 18,716 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of InterContinental Hotels Group in the 1st quarter worth $48,000. Ballentine Partners LLC acquired a new stake in shares of InterContinental Hotels Group during the first quarter worth $227,000. &PARTNERS bought a new stake in InterContinental Hotels Group in the first quarter valued at about $285,000. Finally, Park Avenue Securities LLC acquired a new position in InterContinental Hotels Group in the first quarter valued at about $223,000. 15.09% of the stock is owned by institutional investors.

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.