JPMorgan Chase & Co. Sells 12,853 Shares of Intercontinental Hotels Group $IHG

JPMorgan Chase & Co. decreased its position in Intercontinental Hotels Group (NYSE:IHG) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,970 shares of the company’s stock after selling 12,853 shares during the period. JPMorgan Chase & Co. owned approximately 0.29% of Intercontinental Hotels Group worth $53,230,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IHG. CIBC Bancorp USA Inc. bought a new stake in Intercontinental Hotels Group during the 3rd quarter valued at about $42,374,000. Lazard Asset Management LLC lifted its stake in shares of Intercontinental Hotels Group by 98.4% in the second quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after buying an additional 176,502 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Intercontinental Hotels Group by 369.2% during the second quarter. Marshall Wace LLP now owns 172,622 shares of the company’s stock valued at $19,910,000 after buying an additional 135,829 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Intercontinental Hotels Group by 79.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 240,639 shares of the company’s stock valued at $29,180,000 after buying an additional 106,806 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Intercontinental Hotels Group by 137.6% during the second quarter. Cubist Systematic Strategies LLC now owns 134,489 shares of the company’s stock valued at $15,512,000 after acquiring an additional 77,883 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IHG has been the topic of several analyst reports. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Finally, Jefferies Financial Group upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Intercontinental Hotels Group Trading Down 1.3%

Shares of Intercontinental Hotels Group stock opened at $129.28 on Friday. The stock has a 50 day moving average price of $138.38 and a 200-day moving average price of $132.13. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $150.89.

Intercontinental Hotels Group Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, April 10th will be paid a dividend of $1.259 per share. This represents a yield of 191.0%. The ex-dividend date of this dividend is Friday, April 10th.

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.