Dimensional Fund Advisors LP cut its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 141,876 shares of the company’s stock after selling 1,065 shares during the quarter. Dimensional Fund Advisors LP’s holdings in InterContinental Hotels Group were worth $8,891,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. UBS Group AG lifted its holdings in InterContinental Hotels Group by 238.8% during the 1st quarter. UBS Group AG now owns 2,175 shares of the company’s stock valued at $133,000 after buying an additional 1,533 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in InterContinental Hotels Group by 133.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,625 shares of the company’s stock valued at $161,000 after buying an additional 1,502 shares in the last quarter. CIBC World Markets Inc. bought a new stake in InterContinental Hotels Group during the 2nd quarter valued at about $202,000. Suntrust Banks Inc. bought a new stake in InterContinental Hotels Group during the 1st quarter valued at about $206,000. Finally, Sei Investments Co. lifted its holdings in InterContinental Hotels Group by 576.5% during the 1st quarter. Sei Investments Co. now owns 5,304 shares of the company’s stock valued at $325,000 after buying an additional 4,520 shares in the last quarter. 7.18% of the stock is owned by hedge funds and other institutional investors.
Shares of IHG opened at $53.44 on Friday. InterContinental Hotels Group PLC has a 1-year low of $53.16 and a 1-year high of $69.23. The stock has a market cap of $10.56 billion, a P/E ratio of 21.99 and a beta of 1.33. The company has a debt-to-equity ratio of -1.67, a current ratio of 0.78 and a quick ratio of 0.78.
The business also recently disclosed a special dividend, which was paid on Friday, October 5th. Investors of record on Friday, August 31st were issued a dividend of $0.363 per share. This is a positive change from InterContinental Hotels Group’s previous special dividend of $0.33. The ex-dividend date of this dividend was Thursday, August 30th. This represents a yield of 2.36%. InterContinental Hotels Group’s dividend payout ratio (DPR) is presently 29.63%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Thursday, July 5th. Raymond James lowered shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, September 4th. Finally, Citigroup lowered shares of InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a report on Monday, September 3rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.00.
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, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.
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