InterContinental Hotels Group (NYSE:IHG) Raised to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of InterContinental Hotels Group (NYSE:IHG) from a neutral rating to a buy rating in a research note published on Wednesday morning, MarketBeat Ratings reports.

InterContinental Hotels Group Stock Performance

InterContinental Hotels Group stock opened at $108.21 on Wednesday. The firm has a market cap of $17.49 billion, a PE ratio of 22.04, a P/E/G ratio of 1.56 and a beta of 1.31. The firm’s 50 day moving average price is $100.76 and its two-hundred day moving average price is $101.98. InterContinental Hotels Group has a twelve month low of $70.06 and a twelve month high of $112.08.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, August 30th will be paid a dividend of $0.532 per share. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 1.6%. InterContinental Hotels Group’s dividend payout ratio is 21.63%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IHG. Private Advisor Group LLC acquired a new position in shares of InterContinental Hotels Group during the 4th quarter worth $243,000. Dynamic Technology Lab Private Ltd bought a new position in InterContinental Hotels Group in the 4th quarter worth $338,000. PNC Financial Services Group Inc. raised its holdings in InterContinental Hotels Group by 5.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after acquiring an additional 174 shares during the period. Trexquant Investment LP bought a new position in InterContinental Hotels Group in the 4th quarter worth $2,206,000. Finally, King Luther Capital Management Corp bought a new position in InterContinental Hotels Group in the 4th quarter worth $235,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.