Rehmann Capital Advisory Group Sells 541 Shares of Intercontinental Hotels Group $IHG

Rehmann Capital Advisory Group decreased its position in Intercontinental Hotels Group (NYSE:IHG) by 17.6% during the 2nd quarter, Holdings Channel reports. The firm owned 2,526 shares of the company’s stock after selling 541 shares during the period. Rehmann Capital Advisory Group’s holdings in Intercontinental Hotels Group were worth $291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Verdence Capital Advisors LLC grew its holdings in shares of Intercontinental Hotels Group by 117.7% in the second quarter. Verdence Capital Advisors LLC now owns 4,619 shares of the company’s stock worth $533,000 after purchasing an additional 2,497 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Intercontinental Hotels Group by 50.2% in the second quarter. Atria Wealth Solutions Inc. now owns 5,215 shares of the company’s stock valued at $601,000 after acquiring an additional 1,744 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Intercontinental Hotels Group by 12.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,533 shares of the company’s stock valued at $1,346,000 after acquiring an additional 1,281 shares in the last quarter. Wealthstar Advisors LLC boosted its holdings in Intercontinental Hotels Group by 23.1% in the second quarter. Wealthstar Advisors LLC now owns 4,559 shares of the company’s stock valued at $526,000 after acquiring an additional 857 shares in the last quarter. Finally, Callan Family Office LLC boosted its holdings in Intercontinental Hotels Group by 51.2% in the second quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock valued at $1,046,000 after acquiring an additional 3,071 shares in the last quarter. Institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Trading Up 1.5%

Shares of Intercontinental Hotels Group stock opened at $124.37 on Friday. The firm has a market capitalization of $18.96 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.77 and a beta of 1.24. The business has a fifty day simple moving average of $121.62 and a two-hundred day simple moving average of $117.07. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $137.25.

Intercontinental Hotels Group Cuts Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on IHG. Wall Street Zen upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intercontinental Hotels Group currently 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.