InterContinental Hotels Group PLC (NYSE:IHG) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its position in InterContinental Hotels Group PLC (NYSE:IHG – Get Rating) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,550 shares of the company’s stock after selling 4,349 shares during the period. CIBC Private Wealth Group LLC’s holdings in InterContinental Hotels Group were worth $19,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IHG. FMR LLC lifted its position in InterContinental Hotels Group by 22.3% in the second quarter. FMR LLC now owns 3,693,785 shares of the company’s stock valued at $199,649,000 after purchasing an additional 674,404 shares during the period. Bank of America Corp DE lifted its position in InterContinental Hotels Group by 139.9% in the first quarter. Bank of America Corp DE now owns 148,149 shares of the company’s stock valued at $10,196,000 after purchasing an additional 86,405 shares during the period. Goldman Sachs Group Inc. lifted its position in InterContinental Hotels Group by 20.9% in the first quarter. Goldman Sachs Group Inc. now owns 490,190 shares of the company’s stock valued at $33,735,000 after purchasing an additional 84,613 shares during the period. Renaissance Technologies LLC increased its holdings in InterContinental Hotels Group by 251.1% in the third quarter. Renaissance Technologies LLC now owns 96,200 shares of the company’s stock valued at $4,676,000 after buying an additional 68,800 shares in the last quarter. Finally, Echo Street Capital Management LLC purchased a new position in InterContinental Hotels Group in the third quarter valued at about $2,226,000. Institutional investors and hedge funds own 4.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on IHG shares. StockNews.com raised shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft cut shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. Bank of America raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 18th. JPMorgan Chase & Co. dropped their target price on shares of InterContinental Hotels Group from GBX 6,200 ($75.56) to GBX 6,000 ($73.13) in a report on Wednesday, February 22nd. Finally, Stifel Nicolaus cut shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Friday, February 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5,466.67.

InterContinental Hotels Group Price Performance

Shares of IHG opened at $67.55 on Wednesday. The firm has a 50 day simple moving average of $68.24 and a 200-day simple moving average of $59.76. InterContinental Hotels Group PLC has a 1-year low of $47.06 and a 1-year high of $72.10.

InterContinental Hotels Group Increases Dividend

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

InterContinental Hotels Group Company Profile

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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.