Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 16,581 InterContinental Hotels Group PLC (NYSE:IHG)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,581 shares of the company’s stock, valued at approximately $2,071,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after purchasing an additional 73,361 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of InterContinental Hotels Group during the fourth quarter worth about $262,000. World Investment Advisors LLC acquired a new stake in shares of InterContinental Hotels Group during the third quarter worth about $86,000. Jane Street Group LLC increased its position in shares of InterContinental Hotels Group by 120.2% during the third quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock worth $472,000 after purchasing an additional 2,330 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of InterContinental Hotels Group by 6.7% during the third quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock worth $1,943,000 after purchasing an additional 1,107 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analysts Set New Price Targets

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

InterContinental Hotels Group Stock Down 2.0 %

NYSE IHG opened at $112.17 on Wednesday. InterContinental Hotels Group PLC has a 52-week low of $91.57 and a 52-week high of $137.25. The business’s 50-day moving average price is $127.04 and its 200 day moving average price is $120.35. The firm has a market cap of $17.69 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be issued a $1.144 dividend. This represents a yield of 1.4%. The ex-dividend date is Friday, April 4th. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. InterContinental Hotels Group’s payout ratio is currently 18.79%.

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.