Intercontinental Hotels Group (NYSE:IHG) Reaches New 12-Month High – Here’s Why

Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $151.45 and last traded at $151.4930, with a volume of 14835 shares traded. The stock had previously closed at $150.16.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IHG shares. Sanford C. Bernstein raised their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Intercontinental Hotels Group presently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Intercontinental Hotels Group Price Performance

The firm has a 50-day simple moving average of $138.90 and a 200 day simple moving average of $137.40.

Intercontinental Hotels Group Announces Dividend

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

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds have recently modified their holdings of the business. CCLA Investment Management acquired a new position in shares of Intercontinental Hotels Group during the fourth quarter worth $114,306,000. Morgan Stanley lifted its holdings in shares of Intercontinental Hotels Group by 3.9% during the fourth quarter. Morgan Stanley now owns 764,049 shares of the company’s stock worth $107,601,000 after purchasing an additional 28,526 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Intercontinental Hotels Group by 1.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock worth $100,006,000 after purchasing an additional 9,235 shares during the period. Bank of America Corp DE lifted its holdings in shares of Intercontinental Hotels Group by 0.8% during the third quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after purchasing an additional 4,080 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of Intercontinental Hotels Group by 3.9% during the fourth quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after purchasing an additional 17,503 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

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.