Envestnet Asset Management Inc. Increases Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Envestnet Asset Management Inc. raised its position in InterContinental Hotels Group PLC (NYSE:IHG) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,321 shares of the company’s stock after acquiring an additional 3,431 shares during the period. Envestnet Asset Management Inc.’s holdings in InterContinental Hotels Group were worth $6,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in InterContinental Hotels Group by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock worth $35,000 after acquiring an additional 106 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of InterContinental Hotels Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after acquiring an additional 106 shares during the period. Parallel Advisors LLC boosted its stake 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. GAMMA Investing LLC grew its position in shares of InterContinental Hotels Group by 15.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,008 shares of the company’s stock valued at $107,000 after acquiring an additional 135 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of InterContinental Hotels Group by 7.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock valued at $244,000 after purchasing an additional 154 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 0.4 %

NYSE:IHG opened at $113.17 on Monday. InterContinental Hotels Group PLC has a 52 week low of $70.06 and a 52 week high of $114.20. The stock’s fifty day moving average is $101.03 and its two-hundred day moving average is $102.09. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.31.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, August 30th will be given a dividend of $0.532 per share. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 1.6%. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. InterContinental Hotels Group’s dividend payout ratio is currently 21.63%.

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.