Bank of New York Mellon Corp Buys 502 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Bank of New York Mellon Corp raised its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,104 shares of the company’s stock after purchasing an additional 502 shares during the period. Bank of New York Mellon Corp’s holdings in InterContinental Hotels Group were worth $1,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after acquiring an additional 73,361 shares in the last quarter. Entropy Technologies LP bought a new stake in InterContinental Hotels Group in the 4th quarter worth approximately $262,000. World Investment Advisors LLC bought a new stake in InterContinental Hotels Group in the 3rd quarter worth approximately $86,000. Jane Street Group LLC grew its position in InterContinental Hotels Group by 120.2% in the 3rd quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock worth $472,000 after purchasing an additional 2,330 shares during the period. Finally, Stifel Financial Corp grew its position in InterContinental Hotels Group by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock worth $1,943,000 after purchasing an additional 1,107 shares during the period. Institutional investors own 15.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on IHG. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Citigroup assumed coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They set a “sell” rating on the stock. Finally, Morgan Stanley cut shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

IHG opened at $109.65 on Friday. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25. The firm’s fifty day moving average is $126.41 and its 200 day moving average is $120.45. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be paid a $1.144 dividend. The ex-dividend date is Friday, April 4th. This represents a yield of 1.4%. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. InterContinental Hotels Group’s payout ratio is presently 39.36%.

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.