Intercontinental Hotels Group (NYSE:IHG) Shares Sold by LPL Financial LLC

LPL Financial LLC decreased its holdings in Intercontinental Hotels Group (NYSE:IHG) by 20.3% during the 1st quarter, HoldingsChannel reports. The fund owned 34,366 shares of the company’s stock after selling 8,729 shares during the quarter. LPL Financial LLC’s holdings in Intercontinental Hotels Group were worth $3,766,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IHG. Golden State Wealth Management LLC lifted its stake in shares of Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 114 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Intercontinental Hotels Group by 186.3% in the first quarter. Whittier Trust Co. now owns 272 shares of the company’s stock worth $30,000 after acquiring an additional 177 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Intercontinental Hotels Group by 48.7% in the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock worth $38,000 after acquiring an additional 114 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Intercontinental Hotels Group by 722.4% in the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company’s stock worth $141,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Intercontinental Hotels Group by 67.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company’s stock worth $176,000 after acquiring an additional 570 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Performance

NYSE:IHG opened at $121.16 on Friday. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The business’s 50-day simple moving average is $117.08 and its 200 day simple moving average is $116.97. The stock has a market cap of $18.70 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.566 per share. The ex-dividend date is Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group’s dividend payout ratio is presently 39.54%.

Intercontinental Hotels Group Company 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.