InterContinental Hotels Group PLC (NYSE:IHG) Receives Consensus Rating of “Hold” from Brokerages

InterContinental Hotels Group PLC (NYSE:IHG) has earned a consensus recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company.

Separately, The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th.

Institutional Investors Weigh In On InterContinental Hotels Group

Large investors have recently made changes to their positions in the business. Hsbc Holdings PLC increased its position in shares of InterContinental Hotels Group by 133.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,433 shares of the company’s stock valued at $1,212,000 after purchasing an additional 6,533 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in InterContinental Hotels Group by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock worth $48,000 after acquiring an additional 191 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in InterContinental Hotels Group in the 1st quarter worth about $1,163,000. BNP Paribas Financial Markets increased its holdings in InterContinental Hotels Group by 130.0% in the 1st 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 last quarter. Finally, QRG Capital Management Inc. increased its holdings in InterContinental Hotels Group by 49.2% in the 1st quarter. QRG Capital Management Inc. now owns 21,135 shares of the company’s stock worth $2,233,000 after acquiring an additional 6,969 shares during the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Stock Performance

InterContinental Hotels Group stock opened at $118.34 on Thursday. InterContinental Hotels Group has a 52-week low of $72.29 and a 52-week high of $118.40. The stock’s 50 day moving average price is $108.30 and its two-hundred day moving average price is $103.87.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, August 30th were given a dividend of $0.532 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a dividend yield of 1.6%.

About InterContinental Hotels Group

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.