InterContinental Hotels Group PLC (NYSE:IHG) Shares Sold by Ethic Inc.

Ethic Inc. lessened its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 25.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,960 shares of the company’s stock after selling 3,129 shares during the period. Ethic Inc.’s holdings in InterContinental Hotels Group were worth $1,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Park Avenue Securities LLC lifted its holdings in InterContinental Hotels Group by 24.4% in the fourth quarter. Park Avenue Securities LLC now owns 10,307 shares of the company’s stock valued at $1,288,000 after acquiring an additional 2,020 shares during the period. Ritholtz Wealth Management increased its holdings in shares of InterContinental Hotels Group by 4.2% during the 4th quarter. Ritholtz Wealth Management now owns 13,107 shares of the company’s stock valued at $1,637,000 after purchasing an additional 524 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of InterContinental Hotels Group by 11.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,149 shares of the company’s stock valued at $268,000 after purchasing an additional 216 shares during the period. Ballentine Partners LLC grew its position in InterContinental Hotels Group by 7.1% during the fourth quarter. Ballentine Partners LLC now owns 2,344 shares of the company’s stock valued at $293,000 after buying an additional 156 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in InterContinental Hotels Group by 1.7% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 11,675 shares of the company’s stock valued at $1,458,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IHG shares. Citigroup initiated coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded InterContinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

NYSE:IHG opened at $123.78 on Wednesday. The stock has a market capitalization of $19.27 billion, a PE ratio of 21.95, a P/E/G ratio of 1.69 and a beta of 1.34. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25. The company has a fifty day moving average of $108.98 and a two-hundred day moving average of $120.09.

InterContinental Hotels Group Increases Dividend

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

InterContinental Hotels Group 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.