Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,222 shares of the company’s stock, valued at approximately $1,595,000.

Several other hedge funds have also recently modified their holdings of IHG. US Bancorp DE grew its position in shares of InterContinental Hotels Group by 3.1% in the 3rd quarter. US Bancorp DE now owns 34,023 shares of the company’s stock worth $2,137,000 after buying an additional 1,018 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of InterContinental Hotels Group by 2.6% in the 3rd quarter. Wells Fargo & Company MN now owns 96,362 shares of the company’s stock worth $6,051,000 after buying an additional 2,411 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of InterContinental Hotels Group by 25.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 33,181 shares of the company’s stock worth $2,083,000 after buying an additional 6,771 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of InterContinental Hotels Group by 34.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,642 shares of the company’s stock worth $857,000 after buying an additional 3,501 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of InterContinental Hotels Group by 149.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,332 shares of the company’s stock worth $273,000 after buying an additional 2,598 shares during the last quarter. Hedge funds and other institutional investors own 7.91% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Berenberg Bank upgraded InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 17th. UBS Group upgraded InterContinental Hotels Group from a “sell” rating to a “neutral” rating in a research report on Thursday, January 10th. Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Monday, January 7th. Goldman Sachs Group lowered InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research report on Thursday, January 10th. Finally, Bank of America reiterated a “buy” rating on shares of InterContinental Hotels Group in a research report on Monday, February 11th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. InterContinental Hotels Group currently has an average rating of “Hold” and an average price target of $72.00.

IHG opened at $60.88 on Friday. The company has a market capitalization of $10.92 billion, a PE ratio of 23.78, a PEG ratio of 2.31 and a beta of 1.20. InterContinental Hotels Group PLC has a 52 week low of $50.84 and a 52 week high of $67.17.

The company also recently announced a semiannual dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, March 29th will be paid a $0.781 dividend. This represents a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from InterContinental Hotels Group’s previous semiannual dividend of $0.64. InterContinental Hotels Group’s dividend payout ratio (DPR) is presently 29.30%.

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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, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Institutional Ownership by Quarter for InterContinental Hotels Group (NYSE:IHG)

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