InterContinental Hotels Group PLC (NYSE:IHG) Receives Average Recommendation of “Reduce” from Analysts

InterContinental Hotels Group PLC (NYSE:IHG) has been assigned a consensus rating of “Reduce” from the six analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company.

Separately, The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday.

InterContinental Hotels Group Stock Performance

InterContinental Hotels Group stock opened at $108.21 on Wednesday. The stock has a fifty day moving average of $100.76 and a two-hundred day moving average of $101.98. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.56 and a beta of 1.31. InterContinental Hotels Group has a fifty-two week low of $70.06 and a fifty-two week high of $112.08.

InterContinental Hotels Group Increases Dividend

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

Institutional Trading of InterContinental Hotels Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in InterContinental Hotels Group by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after buying an additional 106 shares during the last quarter. Rothschild Investment LLC bought a new stake in InterContinental Hotels Group in the second quarter valued at about $36,000. Allspring Global Investments Holdings LLC bought a new stake in InterContinental Hotels Group in the first quarter valued at about $48,000. EverSource Wealth Advisors LLC increased its holdings in InterContinental Hotels Group by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after buying an additional 191 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in InterContinental Hotels Group in the second quarter valued at about $50,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

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.