Intercontinental Hotels Group (NYSE:IHG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $135.08 and traded as high as $147.22. Intercontinental Hotels Group shares last traded at $146.3520, with a volume of 261,151 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on IHG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Intercontinental Hotels Group Stock Up 1.9%

The stock has a fifty day moving average of $137.52 and a 200-day moving average of $135.08.

Intercontinental Hotels Group Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, May 14th. Investors of record on Friday, April 10th will be issued a $1.259 dividend. This represents a dividend yield of 178.0%. The ex-dividend date of this dividend is Friday, April 10th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its holdings in shares of Intercontinental Hotels Group by 178.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock valued at $25,000 after buying an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Intercontinental Hotels Group by 1,453.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the period. Fifth Third Bancorp increased its position in Intercontinental Hotels Group by 111.0% in the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the period. Cullen Frost Bankers Inc. increased its position in Intercontinental Hotels Group by 72.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC increased its position in Intercontinental Hotels Group by 525.6% in the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock worth $38,000 after purchasing an additional 226 shares during the period. 15.09% of the stock is owned by institutional investors.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.