Charles Schwab Investment Management Inc. Raises Position in InterContinental Hotels Group PLC (NYSE:IHG)

Charles Schwab Investment Management Inc. increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 10.8% in the 4th quarter, HoldingsChannel reports. The firm owned 21,671 shares of the company’s stock after purchasing an additional 2,117 shares during the period. Charles Schwab Investment Management Inc.’s holdings in InterContinental Hotels Group were worth $2,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in shares of InterContinental Hotels Group during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in InterContinental Hotels Group during the fourth quarter worth $42,000. Venturi Wealth Management LLC purchased a new position in InterContinental Hotels Group in the fourth quarter worth $72,000. Smartleaf Asset Management LLC lifted its holdings in InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after acquiring an additional 461 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth $86,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

IHG has been the subject of a number of research analyst reports. Citigroup assumed coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating for the company. 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. Finally, Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

IHG stock opened at $111.95 on Friday. The stock’s 50 day moving average price is $125.39 and its 200 day moving average price is $120.65. The firm has a market cap of $17.63 billion, a P/E ratio of 19.85, a PEG ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a 1 year low of $91.57 and a 1 year high of $137.25.

InterContinental Hotels Group Increases Dividend

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

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.