LPL Financial LLC Sells 8,729 Shares of Intercontinental Hotels Group (NYSE:IHG)

LPL Financial LLC trimmed its stake in Intercontinental Hotels Group (NYSE:IHG) by 20.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,366 shares of the company’s stock after selling 8,729 shares during the period. LPL Financial LLC’s holdings in Intercontinental Hotels Group were worth $3,766,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IHG. Raymond James Financial Inc. bought a new position in shares of Intercontinental Hotels Group in the 4th quarter worth $13,796,000. Russell Investments Group Ltd. raised its position in shares of Intercontinental Hotels Group by 67.9% in the 4th quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company’s stock worth $176,000 after acquiring an additional 570 shares in the last quarter. Mariner LLC raised its position in shares of Intercontinental Hotels Group by 6.8% in the 4th quarter. Mariner LLC now owns 8,166 shares of the company’s stock worth $1,020,000 after acquiring an additional 519 shares in the last quarter. United Capital Financial Advisors LLC raised its position in shares of Intercontinental Hotels Group by 7.1% in the 4th quarter. United Capital Financial Advisors LLC now owns 3,181 shares of the company’s stock worth $397,000 after acquiring an additional 212 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Intercontinental Hotels Group by 6.9% in the 4th quarter. NewEdge Advisors LLC now owns 6,764 shares of the company’s stock worth $845,000 after acquiring an additional 438 shares in the last quarter. 15.09% of the stock is owned by institutional investors.

Intercontinental Hotels Group Price Performance

Shares of IHG stock opened at $121.16 on Friday. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The stock’s fifty day moving average price is $117.08 and its 200 day moving average price is $116.97. The company has a market cap of $18.70 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be paid a dividend of $0.566 per share. This represents a yield of 140.0%. The ex-dividend date is Friday, August 22nd. Intercontinental Hotels Group’s payout ratio is 39.54%.

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.