Intercontinental Hotels Group $IHG Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Intercontinental Hotels Group (NYSE:IHG) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,101 shares of the company’s stock after purchasing an additional 476 shares during the quarter. HighTower Advisors LLC’s holdings in Intercontinental Hotels Group were worth $1,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of Intercontinental Hotels Group by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Whittier Trust Co. lifted its holdings in shares of Intercontinental Hotels Group by 186.3% during the first quarter. Whittier Trust Co. now owns 272 shares of the company’s stock worth $30,000 after purchasing an additional 177 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Intercontinental Hotels Group by 48.7% during the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Intercontinental Hotels Group by 722.4% during the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company’s stock worth $141,000 after purchasing an additional 1,127 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth about $228,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Trading Up 2.2%

Shares of NYSE:IHG opened at $122.63 on Monday. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $137.25. The company has a market capitalization of $18.88 billion, a PE ratio of 21.74, a PEG ratio of 1.69 and a beta of 1.33. The business has a 50 day moving average of $117.71 and a two-hundred day moving average of $116.26.

Intercontinental Hotels Group Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be issued a $0.566 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group’s payout ratio is presently 20.04%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently 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.