Intercontinental Hotels Group (NYSE:IHG) Given Average Recommendation of “Moderate Buy” by Brokerages

Intercontinental Hotels Group (NYSE:IHG) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

Several research firms have weighed in on IHG. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Berenberg Bank upgraded Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp grew its position in Intercontinental Hotels Group by 228.2% in the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock valued at $531,000 after purchasing an additional 3,368 shares during the period. Goldman Sachs Group Inc. raised its holdings in Intercontinental Hotels Group by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after buying an additional 16,461 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Intercontinental Hotels Group in the second quarter valued at $306,000. King Luther Capital Management Corp lifted its stake in shares of Intercontinental Hotels Group by 6.1% in the second quarter. King Luther Capital Management Corp now owns 2,044 shares of the company’s stock valued at $236,000 after buying an additional 118 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Intercontinental Hotels Group by 12.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,737 shares of the company’s stock valued at $431,000 after buying an additional 421 shares during the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group Trading Down 1.6%

Intercontinental Hotels Group stock opened at $128.91 on Wednesday. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $150.89. The firm’s fifty day moving average is $139.08 and its 200 day moving average is $131.96.

Intercontinental Hotels Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, April 10th will be paid a $1.259 dividend. This represents a yield of 191.0%. The ex-dividend date of this dividend is Friday, April 10th.

Intercontinental Hotels Group Company Profile

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.