Verdence Capital Advisors LLC Has $533,000 Position in Intercontinental Hotels Group $IHG

Verdence Capital Advisors LLC boosted its holdings in Intercontinental Hotels Group (NYSE:IHG) by 117.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,619 shares of the company’s stock after buying an additional 2,497 shares during the period. Verdence Capital Advisors LLC’s holdings in Intercontinental Hotels Group were worth $533,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Brooklyn Investment Group raised its holdings in Intercontinental Hotels Group by 219.5% in the first quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock worth $27,000 after purchasing an additional 169 shares during the period. Whittier Trust Co. raised its holdings in Intercontinental Hotels Group by 186.3% in the first quarter. Whittier Trust Co. now owns 272 shares of the company’s stock worth $30,000 after purchasing an additional 177 shares during the period. TD Private Client Wealth LLC raised its holdings in Intercontinental Hotels Group by 48.7% in the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares during the period. Finally, Hilltop National Bank acquired a new stake in Intercontinental Hotels Group in the second quarter worth $41,000. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IHG has been the topic of several analyst reports. Wall Street Zen lowered shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. upgraded shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Three research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Intercontinental Hotels Group Trading Down 0.4%

Intercontinental Hotels Group stock opened at $122.11 on Wednesday. The company has a market cap of $18.64 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The company has a fifty day simple moving average of $121.36 and a 200 day simple moving average of $116.19.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed 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 dividend payout ratio (DPR) is 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.