Proficio Capital Partners LLC Makes New Investment in InterContinental Hotels Group PLC (NYSE:IHG)

Proficio Capital Partners LLC bought a new stake in InterContinental Hotels Group PLC (NYSE:IHG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,489 shares of the company’s stock, valued at approximately $2,185,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Denali Advisors LLC increased its stake in InterContinental Hotels Group by 2.3% during the 4th quarter. Denali Advisors LLC now owns 3,870 shares of the company’s stock worth $483,000 after acquiring an additional 87 shares during the period. Ballentine Partners LLC increased its position in shares of InterContinental Hotels Group by 7.1% in the fourth quarter. Ballentine Partners LLC now owns 2,344 shares of the company’s stock worth $293,000 after purchasing an additional 156 shares during the period. Allspring Global Investments Holdings LLC raised its stake in InterContinental Hotels Group by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,996 shares of the company’s stock valued at $245,000 after purchasing an additional 189 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in InterContinental Hotels Group by 1.7% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 11,675 shares of the company’s stock worth $1,458,000 after purchasing an additional 190 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in InterContinental Hotels Group during the fourth quarter worth about $25,000. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IHG has been the subject of several analyst reports. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Citigroup started coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating for the company. Finally, Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

InterContinental Hotels Group Trading Up 0.5 %

IHG stock opened at $112.75 on Thursday. The firm has a 50-day moving average price of $126.86 and a 200-day moving average price of $120.29. InterContinental Hotels Group PLC has a 12 month low of $91.57 and a 12 month high of $137.25. The stock has a market capitalization of $17.79 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be paid a $1.144 dividend. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.4%. InterContinental Hotels Group’s dividend payout ratio is presently 18.79%.

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.