Toronto Dominion Bank Has $381,000 Stock Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Toronto Dominion Bank reduced its holdings in InterContinental Hotels Group PLC (NYSE:IHG) by 27.4% in the second quarter, HoldingsChannel reports. The firm owned 3,600 shares of the company’s stock after selling 1,358 shares during the period. Toronto Dominion Bank’s holdings in InterContinental Hotels Group were worth $381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in shares of InterContinental Hotels Group in the 2nd quarter valued at about $1,148,000. Marietta Investment Partners LLC increased its position in shares of InterContinental Hotels Group by 7.3% during the second quarter. Marietta Investment Partners LLC now owns 27,340 shares of the company’s stock valued at $2,897,000 after acquiring an additional 1,850 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of InterContinental Hotels Group in the second quarter valued at $3,892,000. Frank Rimerman Advisors LLC purchased a new position in InterContinental Hotels Group in the 2nd quarter valued at approximately $262,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of InterContinental Hotels Group by 133.3% in the second quarter. Hsbc Holdings PLC now owns 11,433 shares of the company’s stock worth $1,212,000 after buying an additional 6,533 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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 research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

IHG stock opened at $110.45 on Tuesday. InterContinental Hotels Group PLC has a 52-week low of $70.06 and a 52-week high of $114.20. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.67 and a beta of 1.31. The firm has a 50 day moving average price of $101.10 and a 200-day moving average price of $102.12.

InterContinental Hotels Group Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th will be paid a dividend of $0.532 per share. The ex-dividend date is Friday, August 30th. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a yield of 1.6%. InterContinental Hotels Group’s payout ratio is currently 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.