Intercontinental Hotels Group (NYSE:IHG) Hits New 12-Month High – What’s Next?

Intercontinental Hotels Group (NYSE:IHG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $151.45 and last traded at $151.4930, with a volume of 14835 shares traded. The stock had previously closed at $150.16.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Intercontinental Hotels Group Stock Up 0.4%

The firm’s fifty day simple moving average is $138.33 and its 200 day simple moving average is $137.15.

Intercontinental Hotels Group Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, May 14th. Investors of record on Friday, April 10th will be paid a $1.259 dividend. This represents a yield of 178.0%. The ex-dividend date of this dividend is Friday, April 10th.

Institutional Investors Weigh In On Intercontinental Hotels Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CCLA Investment Management bought a new position in shares of Intercontinental Hotels Group in the 4th quarter valued at $114,306,000. Morgan Stanley boosted its stake in Intercontinental Hotels Group by 3.9% in the fourth quarter. Morgan Stanley now owns 764,049 shares of the company’s stock valued at $107,601,000 after buying an additional 28,526 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Intercontinental Hotels Group by 1.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock valued at $100,006,000 after acquiring an additional 9,235 shares during the last quarter. Bank of America Corp DE grew its position in Intercontinental Hotels Group by 0.8% in the third quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock valued at $60,835,000 after acquiring an additional 4,080 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Intercontinental Hotels Group by 3.9% during the fourth quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after acquiring an additional 17,503 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.