Squarepoint Ops LLC Makes New Investment in InterContinental Hotels Group PLC (NYSE:IHG)

Squarepoint Ops LLC acquired a new stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,838 shares of the company’s stock, valued at approximately $1,148,000.

Other institutional investors have also recently made changes to their positions in the company. Strategic Global Advisors LLC bought a new position in InterContinental Hotels Group during the fourth quarter valued at approximately $217,000. Barometer Capital Management Inc. bought a new position in InterContinental Hotels Group during the fourth quarter valued at $119,000. PNC Financial Services Group Inc. grew its stake in shares of InterContinental Hotels Group by 5.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after buying an additional 174 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of InterContinental Hotels Group in the 1st quarter worth about $223,000. Finally, &PARTNERS purchased a new stake in shares of InterContinental Hotels Group during the 1st quarter valued at about $285,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Trading Up 1.6 %

Shares of IHG stock opened at $110.87 on Friday. The company has a market capitalization of $17.92 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.67 and a beta of 1.31. InterContinental Hotels Group PLC has a 12-month low of $70.06 and a 12-month high of $114.20. The business’s 50 day moving average is $101.51 and its two-hundred day moving average is $102.30.

InterContinental Hotels Group Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, August 30th were paid a $0.532 dividend. The ex-dividend date of this dividend was 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 dividend payout ratio (DPR) is currently 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 research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.