Intercontinental Hotels Group $IHG Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC lessened its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 55.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,803 shares of the company’s stock after selling 12,223 shares during the quarter. Quadrant Capital Group LLC’s holdings in Intercontinental Hotels Group were worth $1,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of IHG. ABC Arbitrage SA boosted its stake in Intercontinental Hotels Group by 31.0% in the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock valued at $17,918,000 after acquiring an additional 31,754 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Intercontinental Hotels Group by 179.7% during the second quarter. TD Waterhouse Canada Inc. now owns 16,306 shares of the company’s stock valued at $2,747,000 after purchasing an additional 10,476 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Intercontinental Hotels Group during the second quarter valued at approximately $3,259,000. Corient Private Wealth LP raised its position in shares of Intercontinental Hotels Group by 254.6% during the 2nd quarter. Corient Private Wealth LP now owns 11,436 shares of the company’s stock worth $1,980,000 after purchasing an additional 8,211 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised 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 purchasing an additional 145,360 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Trading Down 1.8%

Shares of NYSE:IHG opened at $167.76 on Friday. The company’s 50-day moving average price is $160.06 and its 200 day moving average price is $157.77. Intercontinental Hotels Group has a fifty-two week low of $120.16 and a fifty-two week high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, August 21st were paid a $0.6450 dividend. The ex-dividend date was Friday, August 21st. This is a decrease from Intercontinental Hotels Group’s previous dividend of $1.2590. This represents a dividend yield of 81.0%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IHG shares. UBS Group raised Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Wednesday, September 2nd. Zacks Research upgraded Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Bank of America reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a research report on Thursday. Finally, Jefferies Financial Group raised their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Intercontinental Hotels Group Profile

InterContinental Hotels Group PLC (NYSE: IHG) is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.