Northern Trust Corp Boosts Stake in Intercontinental Hotels Group $IHG

Northern Trust Corp boosted its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,918 shares of the company’s stock after acquiring an additional 4,644 shares during the period. Northern Trust Corp owned 0.10% of Intercontinental Hotels Group worth $16,539,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC grew its position in shares of Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Brooklyn Investment Group grew its holdings in Intercontinental Hotels Group by 219.5% in the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock valued at $27,000 after buying an additional 169 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Intercontinental Hotels Group by 186.3% in the 1st quarter. Whittier Trust Co. now owns 272 shares of the company’s stock worth $30,000 after acquiring an additional 177 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Intercontinental Hotels Group by 48.7% during the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock worth $38,000 after acquiring an additional 114 shares during the period. Finally, Aviso Financial Inc. acquired a new position in shares of Intercontinental Hotels Group during the 1st quarter valued at about $66,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Intercontinental Hotels Group Price Performance

Shares of NYSE:IHG opened at $119.95 on Wednesday. The firm has a market capitalization of $18.45 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $137.25. The firm’s 50-day moving average is $118.99 and its two-hundred day moving average is $115.74.

Intercontinental Hotels Group Cuts Dividend

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

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.