Massachusetts Financial Services Co. MA Raises Position in InterContinental Hotels Group PLC (NYSE:IHG)

Massachusetts Financial Services Co. MA raised its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,094 shares of the company’s stock after buying an additional 4,087 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in InterContinental Hotels Group were worth $5,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in shares of InterContinental Hotels Group in the fourth quarter worth approximately $243,000. Dynamic Technology Lab Private Ltd bought a new position in shares of InterContinental Hotels Group in the 4th quarter worth $338,000. PNC Financial Services Group Inc. raised its position in shares of InterContinental Hotels Group by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock valued at $319,000 after buying an additional 174 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of InterContinental Hotels Group during the 4th quarter worth $2,206,000. Finally, King Luther Capital Management Corp purchased a new position in InterContinental Hotels Group in the fourth quarter worth $235,000. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Performance

IHG stock opened at $108.21 on Friday. The firm has a market cap of $17.49 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.56 and a beta of 1.31. The firm’s fifty day moving average is $100.75 and its 200 day moving average is $101.96. InterContinental Hotels Group PLC has a 52 week low of $70.06 and a 52 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. Stockholders of record on Friday, August 30th will be paid a dividend of $0.532 per share. This is a boost from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 30th. InterContinental Hotels Group’s dividend payout ratio (DPR) is 21.63%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday. Two investment 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 stock currently has an average 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.