Intercontinental Hotels Group (NYSE:IHG) Price Target Raised to $154.00 at Sanford C. Bernstein

Intercontinental Hotels Group (NYSE:IHG) had its price target upped by Sanford C. Bernstein from $141.00 to $154.00 in a research note published on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Other research analysts have also issued research reports about the stock. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Intercontinental Hotels Group Stock Performance

Intercontinental Hotels Group stock opened at $148.55 on Friday. The company’s 50-day moving average is $138.90 and its 200-day moving average is $137.40. Intercontinental Hotels Group has a fifty-two week low of $109.79 and a fifty-two week high of $151.64.

Intercontinental Hotels Group Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, May 14th. Shareholders of record on Friday, April 10th were given a dividend of $1.259 per share. This represents a dividend yield of 178.0%. The ex-dividend date was Friday, April 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IHG. CCLA Investment Management acquired a new position in shares of Intercontinental Hotels Group during the 4th quarter worth approximately $114,306,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Intercontinental Hotels Group during the 3rd quarter worth approximately $42,374,000. Lord Abbett & CO. LLC acquired a new stake in shares of Intercontinental Hotels Group during the 4th quarter worth approximately $26,758,000. Lazard Asset Management LLC boosted its position in shares of Intercontinental Hotels Group by 98.4% during the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after acquiring an additional 176,502 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Intercontinental Hotels Group by 55.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after acquiring an additional 145,360 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.