Bank of America Corp DE Boosts Position in InterContinental Hotels Group PLC (NYSE:IHG)

Bank of America Corp DE raised its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430,323 shares of the company’s stock after buying an additional 35,003 shares during the period. Bank of America Corp DE owned about 0.27% of InterContinental Hotels Group worth $53,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. bought a new stake in InterContinental Hotels Group during the 4th quarter valued at $25,000. Farther Finance Advisors LLC raised its holdings in shares of InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in InterContinental Hotels Group in the fourth quarter worth about $42,000. Venturi Wealth Management LLC bought a new position in InterContinental Hotels Group during the 4th quarter worth about $72,000. Finally, Smartleaf Asset Management LLC increased its position in InterContinental Hotels Group by 419.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after purchasing an additional 461 shares during the period. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Up 2.4%

Shares of InterContinental Hotels Group stock opened at $123.78 on Wednesday. The company has a market cap of $19.27 billion, a P/E ratio of 21.95, a PEG ratio of 1.69 and a beta of 1.34. The firm’s 50 day moving average price is $108.98 and its 200-day moving average price is $120.09. InterContinental Hotels Group PLC has a 52-week low of $91.57 and a 52-week high of $137.25.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be given a dividend of $1.144 per share. The ex-dividend date is Friday, April 4th. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. InterContinental Hotels Group’s dividend payout ratio is presently 39.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft raised InterContinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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.