InterContinental Hotels Group PLC (NYSE:IHG) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. decreased its position in InterContinental Hotels Group PLC (NYSE:IHG) by 4.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,437 shares of the company’s stock after selling 557 shares during the period. First Trust Direct Indexing L.P.’s holdings in InterContinental Hotels Group were worth $1,264,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of InterContinental Hotels Group by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after acquiring an additional 106 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of InterContinental Hotels Group by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock valued at $1,337,000 after acquiring an additional 106 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of InterContinental Hotels Group by 15.5% during the second quarter. GAMMA Investing LLC now owns 1,008 shares of the company’s stock valued at $107,000 after acquiring an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of InterContinental Hotels Group by 7.2% during the second quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock valued at $244,000 after acquiring an additional 154 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in shares of InterContinental Hotels Group by 1.6% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 11,485 shares of the company’s stock valued at $1,269,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

InterContinental Hotels Group Trading Down 1.2 %

NYSE IHG opened at $111.47 on Friday. The business’s 50-day moving average price is $107.51 and its 200 day moving average price is $103.49. InterContinental Hotels Group PLC has a twelve month low of $71.01 and a twelve month high of $115.25. The company has a market capitalization of $17.75 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.32.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, August 30th were given a dividend of $0.532 per share. The ex-dividend date was Friday, August 30th. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a yield of 1.6%. InterContinental Hotels Group’s dividend payout ratio is 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.