CIBC Private Wealth Group LLC Reduces Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

CIBC Private Wealth Group LLC cut its position in InterContinental Hotels Group PLC (NYSE:IHG) by 0.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 303,579 shares of the company’s stock after selling 107 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in InterContinental Hotels Group were worth $36,985,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in InterContinental Hotels Group in the 4th quarter worth $25,000. Farther Finance Advisors LLC increased its position in shares of InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock worth $31,000 after acquiring an additional 101 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of InterContinental Hotels Group in the fourth quarter worth about $42,000. Venturi Wealth Management LLC purchased a new position in InterContinental Hotels Group in the fourth quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC grew its stake in InterContinental Hotels Group by 419.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after purchasing an additional 461 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

InterContinental Hotels Group Trading Down 2.2 %

Shares of IHG opened at $109.41 on Monday. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.69 and a beta of 1.33. The stock has a 50 day moving average of $125.05 and a 200-day moving average of $120.98.

InterContinental Hotels Group Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on IHG shares. Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. 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. Finally, Citigroup started coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They issued a “sell” rating for the company. Two 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 company. Based on data from MarketBeat, the stock presently has a consensus 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.