JARISLOWSKY FRASER Ltd Lowers Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

JARISLOWSKY FRASER Ltd cut its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,273 shares of the company’s stock after selling 258 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in InterContinental Hotels Group were worth $909,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IHG. Clark Capital Management Group Inc. lifted its holdings in shares of InterContinental Hotels Group by 1.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company’s stock valued at $46,613,000 after acquiring an additional 6,709 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of InterContinental Hotels Group by 27.5% during the 4th quarter. Cetera Investment Advisers now owns 11,593 shares of the company’s stock valued at $1,448,000 after acquiring an additional 2,498 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of InterContinental Hotels Group by 8.9% during the 4th quarter. Bank of America Corp DE now owns 430,323 shares of the company’s stock valued at $53,756,000 after acquiring an additional 35,003 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of InterContinental Hotels Group by 5.3% during the 4th quarter. Ameriprise Financial Inc. now owns 7,662 shares of the company’s stock valued at $957,000 after acquiring an additional 387 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of InterContinental Hotels Group by 163.9% during the 4th quarter. Jane Street Group LLC now owns 11,264 shares of the company’s stock valued at $1,407,000 after acquiring an additional 6,995 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Price Performance

Shares of IHG stock opened at $116.10 on Monday. InterContinental Hotels Group PLC has a 12 month low of $91.57 and a 12 month high of $137.25. The firm has a market capitalization of $18.07 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.69 and a beta of 1.34. The company’s fifty day moving average price is $109.03 and its two-hundred day moving average price is $120.00.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed 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 represents a yield of 1.4%. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. InterContinental Hotels Group’s payout ratio is currently 39.36%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IHG shares. Deutsche Bank Aktiengesellschaft upgraded shares of InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Citigroup started coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They set a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

About InterContinental Hotels Group

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.