Ballentine Partners LLC Boosts Stake in Intercontinental Hotels Group $IHG

Ballentine Partners LLC raised its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 19.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the company’s stock after buying an additional 381 shares during the period. Ballentine Partners LLC’s holdings in Intercontinental Hotels Group were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IHG. Ameriprise Financial Inc. lifted its stake in shares of Intercontinental Hotels Group by 5.3% during the 4th quarter. Ameriprise Financial Inc. now owns 7,662 shares of the company’s stock worth $957,000 after acquiring an additional 387 shares during the last quarter. Versant Capital Management Inc lifted its position 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 last quarter. GAMMA Investing LLC boosted its stake in shares of Intercontinental Hotels Group by 9,964.5% during the first quarter. GAMMA Investing LLC now owns 146,741 shares of the company’s stock valued at $160,810,000 after purchasing an additional 145,283 shares during the period. SG Americas Securities LLC grew its holdings in shares of Intercontinental Hotels Group by 22.2% in the first quarter. SG Americas Securities LLC now owns 20,685 shares of the company’s stock worth $2,267,000 after purchasing an additional 3,758 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Intercontinental Hotels Group in the 1st quarter worth about $276,000. Institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Performance

NYSE IHG opened at $123.05 on Monday. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27. The company’s 50-day simple moving average is $119.99 and its two-hundred day simple moving average is $115.31.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, August 22nd will be paid 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 20.04%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IHG shares. JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday. Wall Street Zen upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

About Intercontinental Hotels Group

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.