Parallel Advisors LLC Sells 238 Shares of Intercontinental Hotels Group $IHG

Parallel Advisors LLC reduced its stake in shares of Intercontinental Hotels Group (NYSE:IHG) by 18.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,019 shares of the company’s stock after selling 238 shares during the quarter. Parallel Advisors LLC’s holdings in Intercontinental Hotels Group were worth $118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Brooklyn Investment Group grew its holdings in Intercontinental Hotels Group by 219.5% during 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. grew its holdings in shares of Intercontinental Hotels Group by 186.3% in the first quarter. Whittier Trust Co. now owns 272 shares of the company’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Intercontinental Hotels Group by 48.7% in the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Aviso Financial Inc. purchased a new position in shares of Intercontinental Hotels Group in the first quarter valued at $66,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Hotels Group presently has a consensus rating of “Reduce”.

Intercontinental Hotels Group Price Performance

IHG stock opened at $118.74 on Wednesday. The business has a 50-day moving average price of $119.83 and a 200 day moving average price of $115.20. The company has a market capitalization of $18.19 billion, a P/E ratio of 21.05, a PEG ratio of 1.68 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 firm also recently declared a semi-annual dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.566 per share. The ex-dividend date is Friday, August 22nd. This represents a dividend yield of 140.0%. Intercontinental Hotels Group’s payout ratio is presently 20.04%.

Intercontinental Hotels Group Company 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.