Private Advisor Group LLC Trims Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Private Advisor Group LLC trimmed its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,005 shares of the company’s stock after selling 275 shares during the period. Private Advisor Group LLC’s holdings in InterContinental Hotels Group were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IHG. Hsbc Holdings PLC lifted its position in InterContinental Hotels Group by 133.3% during the second 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 191 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of InterContinental Hotels Group in the first quarter valued at approximately $1,163,000. BNP Paribas Financial Markets boosted its holdings in shares of InterContinental Hotels Group by 130.0% in the first quarter. BNP Paribas Financial Markets now owns 36,288 shares of the company’s stock valued at $3,834,000 after purchasing an additional 20,511 shares during the period. Finally, QRG Capital Management Inc. raised its stake in InterContinental Hotels Group by 49.2% in the first quarter. QRG Capital Management Inc. now owns 21,135 shares of the company’s stock worth $2,233,000 after buying an additional 6,969 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

IHG opened at $118.34 on Thursday. InterContinental Hotels Group PLC has a twelve month low of $72.29 and a twelve month high of $118.40. The company has a 50-day moving average price of $108.30 and a 200 day moving average price of $103.87.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th were issued a $0.532 dividend. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. The ex-dividend date was Friday, August 30th. This represents a yield of 1.6%.

InterContinental Hotels Group Company 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.