Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 16,581 InterContinental Hotels Group PLC (NYSE:IHG)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in InterContinental Hotels Group PLC (NYSE:IHG) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,581 shares of the company’s stock, valued at approximately $2,071,000.

Several other institutional investors have also modified their holdings of IHG. King Luther Capital Management Corp boosted its stake in shares of InterContinental Hotels Group by 13.7% during the 3rd quarter. King Luther Capital Management Corp now owns 2,449 shares of the company’s stock worth $271,000 after acquiring an additional 296 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in shares of InterContinental Hotels Group by 13.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,371 shares of the company’s stock worth $262,000 after acquiring an additional 288 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of InterContinental Hotels Group by 25.2% during the 3rd quarter. Cerity Partners LLC now owns 12,195 shares of the company’s stock worth $1,347,000 after acquiring an additional 2,456 shares in the last quarter. Okabena Investment Services Inc. boosted its stake in shares of InterContinental Hotels Group by 5.7% during the 3rd quarter. Okabena Investment Services Inc. now owns 17,237 shares of the company’s stock worth $1,905,000 after acquiring an additional 935 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after acquiring an additional 351,723 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Stock Performance

Shares of IHG opened at $112.17 on Wednesday. The stock has a fifty day moving average of $127.04 and a two-hundred day moving average of $120.35. The company has a market capitalization of $17.69 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be issued a $1.144 dividend. The ex-dividend date is Friday, April 4th. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a yield of 1.4%. InterContinental Hotels Group’s payout ratio is 18.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Citigroup began coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating for the company. Finally, Sanford C. Bernstein upgraded InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, InterContinental Hotels Group has a consensus rating of “Hold”.

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.