Crossmark Global Holdings Inc. Decreases Position in Intercontinental Hotels Group $IHG

Crossmark Global Holdings Inc. trimmed its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 23.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,304 shares of the company’s stock after selling 4,385 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Intercontinental Hotels Group were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IHG. Orion Porfolio Solutions LLC raised its stake in Intercontinental Hotels Group by 30.8% in the third quarter. Orion Porfolio Solutions LLC now owns 18,241 shares of the company’s stock valued at $2,212,000 after buying an additional 4,299 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Intercontinental Hotels Group by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 174,361 shares of the company’s stock worth $21,143,000 after acquiring an additional 1,452 shares during the last quarter. Aviso Financial Inc. increased its holdings in shares of Intercontinental Hotels Group by 76.4% during the third quarter. Aviso Financial Inc. now owns 2,112 shares of the company’s stock valued at $256,000 after acquiring an additional 915 shares in the last quarter. US Bancorp DE increased its holdings in shares of Intercontinental Hotels Group by 15.4% during the third quarter. US Bancorp DE now owns 9,381 shares of the company’s stock valued at $1,138,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Intercontinental Hotels Group in the 3rd quarter valued at approximately $269,000. 15.09% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group Price Performance

Shares of IHG stock opened at $132.69 on Monday. Intercontinental Hotels Group has a fifty-two week low of $94.78 and a fifty-two week high of $150.89. The stock’s 50-day simple moving average is $140.02 and its 200-day simple moving average is $131.60.

Intercontinental Hotels Group Dividend Announcement

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 yield of 191.0%. The ex-dividend date is Friday, April 10th.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Company Profile

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.