Renaissance Technologies LLC Sells 30,600 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Renaissance Technologies LLC lowered its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 22.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 108,200 shares of the company’s stock after selling 30,600 shares during the period. Renaissance Technologies LLC owned 0.07% of InterContinental Hotels Group worth $11,464,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in IHG. CIBC Private Wealth Group LLC boosted its holdings in shares of InterContinental Hotels Group by 41.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock worth $57,546,000 after acquiring an additional 185,045 shares during the period. Scotia Capital Inc. boosted its holdings in shares of InterContinental Hotels Group by 259.2% during the fourth quarter. Scotia Capital Inc. now owns 36,567 shares of the company’s stock worth $3,334,000 after acquiring an additional 26,386 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of InterContinental Hotels Group by 130.0% during the first quarter. BNP Paribas Financial Markets now owns 36,288 shares of the company’s stock worth $3,834,000 after acquiring an additional 20,511 shares during the period. Natixis Advisors LLC boosted its holdings in shares of InterContinental Hotels Group by 2.8% during the second quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock worth $77,984,000 after acquiring an additional 20,280 shares during the period. Finally, Henry James International Management Inc. boosted its holdings in shares of 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 period. Institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

InterContinental Hotels Group Price Performance

Shares of IHG opened at $108.39 on Tuesday. InterContinental Hotels Group PLC has a one year low of $70.06 and a one year high of $112.08. The company has a market cap of $17.52 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.56 and a beta of 1.31. The firm has a 50 day simple moving average of $100.74 and a two-hundred day simple moving average of $101.94.

InterContinental Hotels Group Increases Dividend

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