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

InterContinental Hotels Group PLC (NYSE:IHG) has been assigned a consensus rating of “Reduce” from the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company.

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

InterContinental Hotels Group Stock Up 3.1 %

NYSE:IHG opened at $102.22 on Tuesday. InterContinental Hotels Group has a 1-year low of $65.66 and a 1-year high of $112.08. The company has a 50-day moving average of $101.10 and a 200 day moving average of $95.51.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 5th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a dividend yield of 1.4%. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.48.

Hedge Funds Weigh In On InterContinental Hotels Group

Several hedge funds have recently modified their holdings of IHG. Natixis Advisors L.P. increased its holdings in shares of InterContinental Hotels Group by 214.8% during the third quarter. Natixis Advisors L.P. now owns 576,718 shares of the company’s stock valued at $43,110,000 after acquiring an additional 393,528 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in InterContinental Hotels Group by 41.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after buying an additional 185,045 shares during the last quarter. Optiver Holding B.V. purchased a new stake in InterContinental Hotels Group in the third quarter valued at approximately $5,302,000. LPL Financial LLC boosted its position in InterContinental Hotels Group by 474.8% in the third quarter. LPL Financial LLC now owns 64,546 shares of the company’s stock valued at $4,825,000 after buying an additional 53,316 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in InterContinental Hotels Group in the third quarter valued at approximately $2,615,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.