Freedom Investment Management Inc. Decreases Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Freedom Investment Management Inc. cut its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,763 shares of the company’s stock after selling 581 shares during the quarter. Freedom Investment Management Inc.’s holdings in InterContinental Hotels Group were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new position in InterContinental Hotels Group during the fourth quarter worth about $25,000. Farther Finance Advisors LLC boosted its holdings in InterContinental Hotels Group by 67.3% in the 4th quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of InterContinental Hotels Group during the 4th quarter worth approximately $42,000. Venturi Wealth Management LLC acquired a new position in InterContinental Hotels Group in the fourth quarter valued at approximately $72,000. Finally, Smartleaf Asset Management LLC grew its position in InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock worth $72,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IHG shares. Deutsche Bank Aktiengesellschaft upgraded shares of InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Citigroup initiated coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating for the company. Sanford C. Bernstein upgraded InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Finally, Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Trading Up 0.7 %

NYSE:IHG opened at $101.45 on Monday. The firm has a market cap of $15.94 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.69 and a beta of 1.29. The stock has a fifty day moving average price of $114.79 and a 200 day moving average price of $120.28. InterContinental Hotels Group PLC has a 12-month low of $91.57 and a 12-month high of $137.25.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be given a dividend of $1.144 per share. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 4th. InterContinental Hotels Group’s payout ratio is 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.