Kayne Anderson Rudnick Investment Management LLC Has $1.16 Million Position in InterContinental Hotels Group PLC (NYSE:IHG)

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 57,906.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,281 shares of the company’s stock after purchasing an additional 9,265 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in InterContinental Hotels Group were worth $1,159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in InterContinental Hotels Group by 29.7% during the 3rd 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 period. Entropy Technologies LP acquired a new position in shares of InterContinental Hotels Group during the fourth quarter worth $262,000. World Investment Advisors LLC bought a new stake in shares of InterContinental Hotels Group in the third quarter worth $86,000. Jane Street Group LLC increased its holdings in InterContinental Hotels Group by 120.2% in the third quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock valued at $472,000 after purchasing an additional 2,330 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in InterContinental Hotels Group by 40.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 5,545 shares of the company’s stock worth $693,000 after purchasing an additional 1,606 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Price Performance

Shares of InterContinental Hotels Group stock opened at $102.84 on Wednesday. The stock’s 50-day moving average is $113.44 and its 200 day moving average is $120.09. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $137.25. The firm has a market cap of $16.16 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.69 and a beta of 1.29.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.144 per share. This represents a dividend yield of 1.4%. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. The ex-dividend date of this dividend is Friday, April 4th. InterContinental Hotels Group’s dividend payout ratio is presently 39.36%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised InterContinental Hotels Group from a “sell” rating to a “hold” rating in a research note on Monday, April 14th. Citigroup started coverage on InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating on the stock. Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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.