Russell Investments Group Ltd. Acquires 328 Shares of Intercontinental Hotels Group $IHG

Russell Investments Group Ltd. raised its holdings in Intercontinental Hotels Group (NYSE:IHG) by 23.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,738 shares of the company’s stock after purchasing an additional 328 shares during the period. Russell Investments Group Ltd.’s holdings in Intercontinental Hotels Group were worth $191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Aaron Wealth Advisors LLC boosted its holdings in Intercontinental Hotels Group by 4.5% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company’s stock valued at $246,000 after purchasing an additional 96 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Intercontinental Hotels Group by 4.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company’s stock worth $232,000 after acquiring an additional 96 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 114 shares during the period. TD Private Client Wealth LLC lifted 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, Whittier Trust Co. lifted its holdings in shares of Intercontinental Hotels Group by 186.3% during 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 period. Institutional investors own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research 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 MarketBeat, the company currently has an average rating of “Hold”.

Intercontinental Hotels Group Price Performance

IHG stock opened at $119.95 on Wednesday. The company has a 50 day simple moving average of $118.99 and a 200 day simple moving average of $115.74. The stock has a market cap of $18.45 billion, a price-to-earnings ratio of 21.27, a P/E/G 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.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be given 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 dividend payout ratio is currently 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.