Mercer Global Advisors Inc. ADV Buys 5,354 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Mercer Global Advisors Inc. ADV lifted its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 46.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,762 shares of the company’s stock after purchasing an additional 5,354 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in InterContinental Hotels Group were worth $1,776,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IHG. Russell Investments Group Ltd. increased its position in InterContinental Hotels Group by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock worth $35,000 after buying an additional 106 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in InterContinental Hotels Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after acquiring an additional 106 shares during the last quarter. Parallel Advisors LLC increased its holdings in InterContinental Hotels Group by 15.8% in the 4th quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock worth $75,000 after acquiring an additional 113 shares during the last quarter. GAMMA Investing LLC raised its stake in InterContinental Hotels Group by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,008 shares of the company’s stock valued at $107,000 after acquiring an additional 135 shares during the period. Finally, Ballentine Partners LLC boosted its position in InterContinental Hotels Group by 7.2% during the second quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock worth $244,000 after purchasing an additional 154 shares during the period. Institutional investors own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

Shares of IHG opened at $108.39 on Tuesday. InterContinental Hotels Group PLC has a 52-week low of $70.06 and a 52-week high of $112.08. The stock’s 50-day simple moving average is $100.74 and its 200 day simple moving average is $101.94. The stock has a market capitalization of $17.52 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

InterContinental Hotels Group Increases Dividend

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

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.