Cubist Systematic Strategies LLC Has $2.70 Million Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Cubist Systematic Strategies LLC cut its position in InterContinental Hotels Group PLC (NYSE:IHG) by 69.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its holdings in shares of InterContinental Hotels Group by 133.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,433 shares of the company’s stock worth $1,212,000 after acquiring an additional 6,533 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in InterContinental Hotels Group by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock worth $48,000 after purchasing an additional 191 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of InterContinental Hotels Group during the first quarter worth $1,163,000. BNP Paribas Financial Markets increased its stake in shares of InterContinental Hotels Group by 130.0% in the first quarter. BNP Paribas Financial Markets now owns 36,288 shares of the company’s stock valued at $3,834,000 after buying an additional 20,511 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of InterContinental Hotels Group by 49.2% in the first quarter. QRG Capital Management Inc. now owns 21,135 shares of the company’s stock valued at $2,233,000 after buying an additional 6,969 shares during the last quarter. 15.09% of the stock is owned by institutional investors.

InterContinental Hotels Group Price Performance

NYSE IHG opened at $112.26 on Friday. InterContinental Hotels Group PLC has a 52 week low of $70.06 and a 52 week high of $114.20. The stock has a fifty day moving average of $102.64 and a 200-day moving average of $102.53.

InterContinental Hotels Group Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, August 30th were given a $0.532 dividend. This represents a yield of 1.6%. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. The ex-dividend date of this dividend was Friday, August 30th.

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 report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.