Fayez Sarofim & Co Has $319,000 Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Fayez Sarofim & Co increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG – Get Rating) by 17.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,565 shares of the company’s stock after purchasing an additional 985 shares during the quarter. Fayez Sarofim & Co’s holdings in InterContinental Hotels Group were worth $319,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wipfli Financial Advisors LLC acquired a new stake in InterContinental Hotels Group in the 3rd quarter valued at about $37,000. Rockefeller Capital Management L.P. increased its position in InterContinental Hotels Group by 46.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 899 shares of the company’s stock valued at $43,000 after acquiring an additional 284 shares in the last quarter. Quantbot Technologies LP acquired a new stake in InterContinental Hotels Group in the 1st quarter valued at about $82,000. Captrust Financial Advisors increased its position in InterContinental Hotels Group by 22.0% in the 1st quarter. Captrust Financial Advisors now owns 1,211 shares of the company’s stock valued at $83,000 after acquiring an additional 218 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in InterContinental Hotels Group by 1,067.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,194 shares of the company’s stock valued at $107,000 after acquiring an additional 2,006 shares in the last quarter. Institutional investors and hedge funds own 4.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IHG. Jefferies Financial Group raised their price objective on shares of InterContinental Hotels Group from GBX 5,500 ($67.03) to GBX 6,200 ($75.56) in a research report on Tuesday, January 24th. Deutsche Bank Aktiengesellschaft cut shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 22nd. UBS Group cut shares of InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 14th. Barclays cut shares of InterContinental Hotels Group from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 6th. Finally, Citigroup lowered their price target on shares of InterContinental Hotels Group from GBX 4,450 ($54.24) to GBX 4,200 ($51.19) in a research report on Wednesday, November 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5,466.67.

InterContinental Hotels Group Price Performance

InterContinental Hotels Group stock opened at $67.55 on Wednesday. The company’s 50 day simple moving average is $68.24 and its 200 day simple moving average is $59.76. InterContinental Hotels Group PLC has a fifty-two week low of $47.06 and a fifty-two week high of $72.10.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, May 16th. Investors of record on Friday, March 31st will be paid a dividend of $0.945 per share. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.44. The ex-dividend date is Thursday, March 30th. This represents a yield of 1.9%.

About InterContinental Hotels Group

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InterContinental Hotels Group Plc owns and operates hotels. The firm’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton and HUALUXE Hotels and Resorts. It operates through the following segments: Europe, Middle East, Asia and Africa, Americas, Greater China and Central.