Intercontinental Hotels Group (NYSE:IHG) Upgraded at UBS Group

UBS Group upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a neutral rating to a buy rating in a report released on Wednesday, Marketbeat reports. The brokerage currently has $188.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. Zacks Research upgraded Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Sanford C. Bernstein upped their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Finally, Jefferies Financial Group raised their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.00.

Intercontinental Hotels Group Stock Down 0.5%

Shares of NYSE IHG opened at $160.01 on Wednesday. Intercontinental Hotels Group has a 1 year low of $117.29 and a 1 year high of $175.89. The stock’s 50-day simple moving average is $161.35 and its 200-day simple moving average is $151.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 21st will be paid a $0.645 dividend. This represents a yield of 81.0%. The ex-dividend date is Friday, August 21st.

Institutional Trading of Intercontinental Hotels Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its position in shares of Intercontinental Hotels Group by 178.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after acquiring an additional 116 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Intercontinental Hotels Group by 1,453.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock valued at $28,000 after acquiring an additional 189 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after acquiring an additional 91 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Intercontinental Hotels Group by 111.0% during the 4th quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Intercontinental Hotels Group by 525.6% during the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock worth $38,000 after purchasing an additional 226 shares during 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.