CIBC Private Wealth Group LLC Trims Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

CIBC Private Wealth Group LLC cut its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 0.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,579 shares of the company’s stock after selling 107 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.19% of InterContinental Hotels Group worth $36,985,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in InterContinental Hotels Group in the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC increased its stake in InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in InterContinental Hotels Group during the fourth quarter worth about $42,000. Venturi Wealth Management LLC acquired a new stake in InterContinental Hotels Group in the 4th quarter worth about $72,000. Finally, Smartleaf Asset Management LLC grew its holdings in InterContinental Hotels Group by 419.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after buying an additional 461 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IHG shares. Morgan Stanley cut shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Finally, Citigroup assumed coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They issued a “sell” rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, InterContinental Hotels Group currently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

NYSE IHG opened at $109.41 on Monday. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $137.25. The company’s 50 day moving average price is $125.05 and its 200 day moving average price is $120.98. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be issued a dividend of $1.144 per share. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. The ex-dividend date is Friday, April 4th. This represents a dividend yield of 1.4%. InterContinental Hotels Group’s payout ratio is presently 39.36%.

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.