Bank of Montreal Can Buys Shares of 36,413 InterContinental Hotels Group PLC (NYSE:IHG)

Bank of Montreal Can purchased a new position in InterContinental Hotels Group PLC (NYSE:IHG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,413 shares of the company’s stock, valued at approximately $3,892,000.

Several other large investors also recently modified their holdings of the business. Frank Rimerman Advisors LLC bought a new stake in shares of InterContinental Hotels Group in the second quarter worth about $262,000. Hsbc Holdings PLC increased its holdings in shares of InterContinental Hotels Group by 133.3% in the second quarter. Hsbc Holdings PLC now owns 11,433 shares of the company’s stock worth $1,212,000 after acquiring an additional 6,533 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of InterContinental Hotels Group by 8.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,152 shares of the company’s stock worth $842,000 after acquiring an additional 616 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of InterContinental Hotels Group by 46.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 16,762 shares of the company’s stock worth $1,776,000 after acquiring an additional 5,354 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of InterContinental Hotels Group by 5.4% in the second quarter. Moors & Cabot Inc. now owns 4,206 shares of the company’s stock worth $446,000 after acquiring an additional 214 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Performance

NYSE:IHG opened at $109.14 on Wednesday. The company has a market cap of $17.64 billion, a PE ratio of 22.27, a PEG ratio of 1.67 and a beta of 1.31. InterContinental Hotels Group PLC has a 52-week low of $70.06 and a 52-week high of $114.20. The stock has a 50-day simple moving average of $101.14 and a 200 day simple moving average of $102.15.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, August 30th will be issued a dividend of $0.532 per share. The ex-dividend date is Friday, August 30th. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a dividend yield of 1.6%. InterContinental Hotels Group’s dividend payout ratio (DPR) is presently 21.63%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded 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 assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold”.

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, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.