Ballentine Partners LLC Trims Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Ballentine Partners LLC cut its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,188 shares of the company’s stock after selling 115 shares during the period. Ballentine Partners LLC’s holdings in InterContinental Hotels Group were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IHG. Bank of Montreal Can purchased a new stake in shares of InterContinental Hotels Group in the second quarter valued at about $3,892,000. BNP Paribas Financial Markets raised its holdings in InterContinental Hotels Group by 130.0% during the first quarter. BNP Paribas Financial Markets now owns 36,288 shares of the company’s stock worth $3,834,000 after purchasing an additional 20,511 shares in the last quarter. Natixis Advisors LLC raised its holdings in InterContinental Hotels Group by 2.8% during the second quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock worth $77,984,000 after purchasing an additional 20,280 shares in the last quarter. Henry James International Management Inc. raised its holdings in InterContinental Hotels Group by 13.1% during the first quarter. Henry James International Management Inc. now owns 121,475 shares of the company’s stock worth $13,000,000 after purchasing an additional 14,071 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its holdings in InterContinental Hotels Group by 125.2% during the second quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock worth $2,570,000 after purchasing an additional 13,487 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Price Performance

IHG stock opened at $113.27 on Wednesday. The company’s 50 day simple moving average is $106.95 and its 200-day simple moving average is $103.36. The firm has a market capitalization of $18.04 billion, a PE ratio of 23.12, a P/E/G ratio of 1.81 and a beta of 1.32. InterContinental Hotels Group PLC has a 12 month low of $71.01 and a 12 month high of $115.25.

InterContinental Hotels Group Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th were paid a dividend of $0.532 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a yield of 1.6%. This is an increase from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. InterContinental Hotels Group’s dividend payout ratio (DPR) is currently 21.63%.

Wall Street Analysts Forecast Growth

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 research analyst has 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 has a consensus rating of “Hold”.

About InterContinental Hotels Group

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.