Intercontinental Hotels Group (NYSE:IHG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company.

A number of analysts have commented on IHG shares. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Finally, Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IHG. Jones Financial Companies Lllp grew its holdings in Intercontinental Hotels Group by 228.2% during the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after buying an additional 3,368 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Intercontinental Hotels Group by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after acquiring an additional 16,461 shares during the last quarter. Bank of Montreal Can purchased a new position in Intercontinental Hotels Group during the 2nd quarter worth $306,000. King Luther Capital Management Corp grew its stake in shares of Intercontinental Hotels Group by 6.1% in the 2nd quarter. King Luther Capital Management Corp now owns 2,044 shares of the company’s stock worth $236,000 after acquiring an additional 118 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Intercontinental Hotels Group by 12.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,737 shares of the company’s stock worth $431,000 after acquiring an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Trading Down 1.6%

Shares of IHG opened at $128.91 on Wednesday. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $150.89. The business’s fifty day moving average is $139.08 and its 200 day moving average is $131.82.

Intercontinental Hotels Group Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, April 10th will be issued 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.

About Intercontinental Hotels Group

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.