Wealth Enhancement Advisory Services LLC Makes New Investment in Intercontinental Hotels Group $IHG

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Intercontinental Hotels Group (NYSE:IHG) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,438 shares of the company’s stock, valued at approximately $292,000.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC grew its position in Intercontinental Hotels Group by 22.2% in the 1st quarter. SG Americas Securities LLC now owns 20,685 shares of the company’s stock valued at $2,267,000 after purchasing an additional 3,758 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Intercontinental Hotels Group in the first quarter worth about $276,000. Blue Trust Inc. boosted its holdings in shares of Intercontinental Hotels Group by 32.4% in the first quarter. Blue Trust Inc. now owns 3,763 shares of the company’s stock worth $412,000 after acquiring an additional 920 shares during the period. Golden State Wealth Management LLC increased its position 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 valued at $25,000 after buying an additional 114 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Intercontinental Hotels Group by 4.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company’s stock valued at $232,000 after purchasing an additional 96 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Stock Up 0.5%

Intercontinental Hotels Group stock opened at $123.80 on Thursday. The business has a 50-day simple moving average of $120.83 and a two-hundred day simple moving average of $115.85. The company has a market cap of $18.90 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.78 and a beta of 1.24. Intercontinental Hotels Group has a 52-week low of $94.78 and a 52-week high of $137.25.

Intercontinental Hotels Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Finally, Morgan Stanley upgraded Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average 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.