InterContinental Hotels Group PLC (NYSE:IHG) Given Consensus Recommendation of “Reduce” by Analysts

InterContinental Hotels Group PLC (NYSE:IHG) has been given an average recommendation of “Reduce” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company.

A number of analysts have commented on the company. Jefferies Financial Group lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. StockNews.com lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Societe Generale cut InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Sanford C. Bernstein cut shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 13th.

Hedge Funds Weigh In On InterContinental Hotels Group

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in InterContinental Hotels Group by 15.8% during the fourth quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock valued at $75,000 after buying an additional 113 shares during the period. Argonautica Private Wealth Management Inc. lifted its position in InterContinental Hotels Group by 3.1% during the third quarter. Argonautica Private Wealth Management Inc. now owns 4,866 shares of the company’s stock valued at $364,000 after purchasing an additional 147 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of InterContinental Hotels Group by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after buying an additional 174 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in InterContinental Hotels Group by 1.9% in the 4th quarter. First Trust Direct Indexing L.P. now owns 12,147 shares of the company’s stock worth $1,108,000 after purchasing an additional 230 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in InterContinental Hotels Group by 6.7% during the third quarter. Moors & Cabot Inc. now owns 4,464 shares of the company’s stock valued at $334,000 after buying an additional 280 shares during the period. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Down 0.9 %

Shares of InterContinental Hotels Group stock opened at $100.75 on Friday. The company has a 50-day simple moving average of $103.96 and a two-hundred day simple moving average of $91.48. InterContinental Hotels Group has a 52-week low of $65.22 and a 52-week high of $112.08.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 5th will be paid a dividend of $1.04 per share. This represents a yield of 1.4%. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.48. The ex-dividend date of this dividend is Thursday, April 4th.

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.