Royal Bank of Canada Sells 22,165 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Royal Bank of Canada decreased its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 503,980 shares of the company’s stock after selling 22,165 shares during the period. Royal Bank of Canada owned approximately 0.32% of InterContinental Hotels Group worth $62,957,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IHG. Natixis Advisors LLC raised its position in shares of InterContinental Hotels Group by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 698,150 shares of the company’s stock valued at $87,213,000 after purchasing an additional 8,067 shares during the last quarter. Bank of America Corp DE raised its position in shares of InterContinental Hotels Group by 8.9% in the 4th quarter. Bank of America Corp DE now owns 430,323 shares of the company’s stock valued at $53,756,000 after purchasing an additional 35,003 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of InterContinental Hotels Group by 1.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company’s stock valued at $46,613,000 after purchasing an additional 6,709 shares during the last quarter. Northern Trust Corp raised its position in shares of InterContinental Hotels Group by 61.0% in the 4th quarter. Northern Trust Corp now owns 146,274 shares of the company’s stock valued at $18,273,000 after purchasing an additional 55,404 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of InterContinental Hotels Group by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 140,800 shares of the company’s stock valued at $17,589,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Stock Down 0.3%

InterContinental Hotels Group stock opened at $120.60 on Wednesday. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34. The stock has a 50-day moving average price of $109.61 and a 200 day moving average price of $120.42.

InterContinental Hotels Group Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup assumed coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They issued a “sell” rating for the company. Deutsche Bank Aktiengesellschaft raised InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

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.