Ethic Inc. Cuts Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Ethic Inc. reduced its position in InterContinental Hotels Group PLC (NYSE:IHG) by 25.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,960 shares of the company’s stock after selling 3,129 shares during the period. Ethic Inc.’s holdings in InterContinental Hotels Group were worth $1,119,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Park Avenue Securities LLC increased its position in shares of InterContinental Hotels Group by 24.4% during the fourth quarter. Park Avenue Securities LLC now owns 10,307 shares of the company’s stock worth $1,288,000 after purchasing an additional 2,020 shares in the last quarter. Ritholtz Wealth Management increased its position in InterContinental Hotels Group by 4.2% during the 4th quarter. Ritholtz Wealth Management now owns 13,107 shares of the company’s stock valued at $1,637,000 after buying an additional 524 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in InterContinental Hotels Group by 11.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,149 shares of the company’s stock worth $268,000 after acquiring an additional 216 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of InterContinental Hotels Group by 7.1% during the fourth quarter. Ballentine Partners LLC now owns 2,344 shares of the company’s stock worth $293,000 after acquiring an additional 156 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in shares of InterContinental Hotels Group by 1.7% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 11,675 shares of the company’s stock valued at $1,458,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IHG. Citigroup started coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They issued a “sell” rating for the company. Deutsche Bank Aktiengesellschaft raised shares of InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

InterContinental Hotels Group Stock Up 2.4%

Shares of NYSE:IHG opened at $123.78 on Wednesday. InterContinental Hotels Group PLC has a 52-week low of $91.57 and a 52-week high of $137.25. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.69 and a beta of 1.34. The business has a 50-day moving average price of $108.98 and a 200-day moving average price of $120.09.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be given a dividend of $1.144 per share. The ex-dividend date is Friday, April 4th. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a yield of 1.4%. InterContinental Hotels Group’s dividend payout ratio (DPR) is currently 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.