Corient Private Wealth LLC Has $4.23 Million Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Corient Private Wealth LLC increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,891 shares of the company’s stock after buying an additional 3,242 shares during the period. Corient Private Wealth LLC’s holdings in InterContinental Hotels Group were worth $4,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after buying an additional 351,723 shares during the last quarter. Natixis Advisors LLC increased its holdings in InterContinental Hotels Group by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 698,150 shares of the company’s stock worth $87,213,000 after buying an additional 8,067 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after buying an additional 73,361 shares during the last quarter. Raymond James Financial Inc. acquired a new position in InterContinental Hotels Group during the fourth quarter worth $13,796,000. Finally, ABC Arbitrage SA acquired a new position in InterContinental Hotels Group during the fourth quarter worth $11,846,000. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on IHG. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Citigroup began coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

NYSE:IHG opened at $109.65 on Friday. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $137.25. The company has a market cap of $17.26 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.69 and a beta of 1.33. The firm’s fifty day moving average price is $126.41 and its two-hundred day moving average price is $120.30.

InterContinental Hotels Group Increases Dividend

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