Moors & Cabot Inc. Purchases 214 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Moors & Cabot Inc. increased its holdings in InterContinental Hotels Group PLC (NYSE:IHG) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,206 shares of the company’s stock after purchasing an additional 214 shares during the period. Moors & Cabot Inc.’s holdings in InterContinental Hotels Group were worth $446,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IHG. Natixis Advisors LLC grew its stake in shares of InterContinental Hotels Group by 2.8% in the 2nd quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock worth $77,984,000 after buying an additional 20,280 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of InterContinental Hotels Group by 41.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after acquiring an additional 185,045 shares during the last quarter. Raymond James & Associates grew its position in InterContinental Hotels Group by 1.2% in the second quarter. Raymond James & Associates now owns 123,232 shares of the company’s stock worth $13,056,000 after acquiring an additional 1,475 shares in the last quarter. Henry James International Management Inc. increased its stake in InterContinental Hotels Group by 13.1% during the first quarter. Henry James International Management Inc. now owns 121,475 shares of the company’s stock worth $13,000,000 after acquiring an additional 14,071 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in InterContinental Hotels Group by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock valued at $6,179,000 after purchasing an additional 3,431 shares during the period. Institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Trading Up 2.1 %

Shares of NYSE:IHG opened at $108.63 on Friday. InterContinental Hotels Group PLC has a 12 month low of $70.06 and a 12 month high of $112.08. The firm’s 50-day moving average is $100.73 and its 200 day moving average is $101.93. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.56 and a beta of 1.31.

InterContinental Hotels Group Increases Dividend

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

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

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.