Arrowstreet Capital Limited Partnership Increases Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Arrowstreet Capital Limited Partnership raised its position in InterContinental Hotels Group PLC (NYSE:IHG) by 241.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,798 shares of the company’s stock after buying an additional 90,339 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.08% of InterContinental Hotels Group worth $15,965,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in InterContinental Hotels Group in the 4th quarter worth about $25,000. Farther Finance Advisors LLC increased its position in shares of InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after buying an additional 101 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of InterContinental Hotels Group during the 4th quarter worth approximately $42,000. Smartleaf Asset Management LLC lifted its position in shares of InterContinental Hotels Group by 419.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after buying an additional 461 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in InterContinental Hotels Group in the 4th quarter worth $72,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IHG has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They set a “sell” rating on the stock. Sanford C. Bernstein upgraded InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

InterContinental Hotels Group Stock Down 4.1 %

InterContinental Hotels Group stock opened at $101.20 on Friday. The company has a fifty day simple moving average of $122.76 and a 200-day simple moving average of $120.88. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.69 and a beta of 1.29. InterContinental Hotels Group PLC has a 52-week low of $91.57 and a 52-week high of $137.25.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be issued a $1.144 dividend. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. The ex-dividend date is Friday, April 4th. This represents a yield of 1.4%. InterContinental Hotels Group’s dividend payout ratio is presently 39.36%.

About InterContinental Hotels Group

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.