R Squared Ltd Takes Position in Intercontinental Hotels Group $IHG

R Squared Ltd purchased a new stake in shares of Intercontinental Hotels Group (NYSE:IHG) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,635 shares of the company’s stock, valued at approximately $765,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IHG. Golden State Wealth Management LLC increased its position in shares of Intercontinental Hotels Group by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Brooklyn Investment Group increased its holdings in Intercontinental Hotels Group by 219.5% during the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock worth $27,000 after purchasing an additional 169 shares during the last quarter. Whittier Trust Co. raised its position in shares of Intercontinental Hotels Group by 186.3% in the 1st quarter. Whittier Trust Co. now owns 272 shares of the company’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Intercontinental Hotels Group by 48.7% during the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock valued at $38,000 after buying an additional 114 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Intercontinental Hotels Group during the second quarter worth approximately $41,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IHG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Wall Street Zen upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Intercontinental Hotels Group Trading Down 1.9%

Shares of NYSE IHG opened at $122.64 on Friday. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $137.25. The company has a market cap of $18.69 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The stock’s 50 day simple moving average is $121.55 and its 200 day simple moving average is $116.87.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, August 22nd were given a $0.566 dividend. The ex-dividend date was Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group’s dividend payout ratio (DPR) is currently 20.04%.

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.