JPMorgan Chase & Co. Sells 12,853 Shares of Intercontinental Hotels Group $IHG

JPMorgan Chase & Co. trimmed its position in shares of Intercontinental Hotels Group (NYSE:IHG) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 438,970 shares of the company’s stock after selling 12,853 shares during the period. JPMorgan Chase & Co.’s holdings in Intercontinental Hotels Group were worth $53,230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Intercontinental Hotels Group by 10.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 86,140 shares of the company’s stock valued at $10,445,000 after acquiring an additional 8,099 shares during the period. Aviso Financial Inc. increased its stake in Intercontinental Hotels Group by 100.2% in the second quarter. Aviso Financial Inc. now owns 1,197 shares of the company’s stock worth $138,000 after purchasing an additional 599 shares during the period. Walter Public Investments Inc. bought a new stake in shares of Intercontinental Hotels Group during the third quarter worth $1,629,000. Natixis Advisors LLC boosted its stake in shares of Intercontinental Hotels Group by 9.0% during the third quarter. Natixis Advisors LLC now owns 448,244 shares of the company’s stock valued at $54,354,000 after purchasing an additional 36,946 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Intercontinental Hotels Group by 4.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 133,833 shares of the company’s stock worth $15,436,000 after purchasing an additional 5,516 shares during the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IHG has been the topic of several recent analyst reports. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Stock Performance

NYSE:IHG opened at $129.28 on Friday. The company’s 50-day simple moving average is $138.38 and its 200-day simple moving average is $132.13. Intercontinental Hotels Group has a fifty-two week low of $94.78 and a fifty-two week high of $150.89.

Intercontinental Hotels Group Dividend Announcement

The company also recently announced 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 is Friday, April 10th.

Intercontinental Hotels Group 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.