Marietta Investment Partners LLC Boosts Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Marietta Investment Partners LLC lifted its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,340 shares of the company’s stock after acquiring an additional 1,850 shares during the quarter. Marietta Investment Partners LLC’s holdings in InterContinental Hotels Group were worth $2,897,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of InterContinental Hotels Group by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock worth $35,000 after acquiring an additional 106 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of InterContinental Hotels Group by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after purchasing an additional 106 shares during the last quarter. Parallel Advisors LLC raised its position in shares of InterContinental Hotels Group by 15.8% during the 4th quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock worth $75,000 after purchasing an additional 113 shares during the last quarter. GAMMA Investing LLC raised its position in shares of InterContinental Hotels Group by 15.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,008 shares of the company’s stock worth $107,000 after purchasing an additional 135 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in shares of InterContinental Hotels Group by 7.2% during the 2nd quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock worth $244,000 after purchasing an additional 154 shares during the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, InterContinental Hotels Group currently has an average rating of “Hold”.

InterContinental Hotels Group Trading Down 0.4 %

IHG stock opened at $108.21 on Monday. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.56 and a beta of 1.31. InterContinental Hotels Group PLC has a 12 month low of $70.06 and a 12 month high of $112.08. The firm has a 50-day moving average of $100.75 and a two-hundred day moving average of $101.92.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th will be issued a $0.532 dividend. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. The ex-dividend date of this dividend is Friday, August 30th. This represents a yield of 1.6%. InterContinental Hotels Group’s dividend payout ratio is presently 21.63%.

InterContinental Hotels Group Profile

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.