Cubist Systematic Strategies LLC Sells 56,691 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Cubist Systematic Strategies LLC cut its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 69.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,457 shares of the company’s stock after selling 56,691 shares during the period. Cubist Systematic Strategies LLC’s holdings in InterContinental Hotels Group were worth $2,697,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings 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 valued at $35,000 after purchasing an additional 106 shares during the last quarter. Rothschild Investment LLC acquired a new position in InterContinental Hotels Group during the 2nd quarter worth approximately $36,000. Allspring Global Investments Holdings LLC acquired a new stake in InterContinental Hotels Group in the first quarter valued at approximately $48,000. EverSource Wealth Advisors LLC lifted its position in InterContinental Hotels Group by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 191 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in shares of InterContinental Hotels Group during the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised 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 given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

NYSE:IHG opened at $113.17 on Monday. The firm’s 50-day moving average price is $101.03 and its 200-day moving average price is $102.09. The company has a market capitalization of $18.29 billion, a PE ratio of 23.10, a P/E/G ratio of 1.67 and a beta of 1.31. InterContinental Hotels Group PLC has a 1-year low of $70.06 and a 1-year high of $114.20.

InterContinental Hotels Group Increases Dividend

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

InterContinental Hotels Group Company 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.