Gitterman Wealth Management LLC Decreases Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Gitterman Wealth Management LLC decreased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,228 shares of the company’s stock after selling 705 shares during the period. Gitterman Wealth Management LLC’s holdings in InterContinental Hotels Group were worth $278,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

InterContinental Hotels Group Stock Performance

InterContinental Hotels Group stock opened at $113.69 on Friday. InterContinental Hotels Group PLC has a 1 year low of $91.57 and a 1 year high of $137.25. The firm’s 50-day moving average is $127.42 and its 200-day moving average is $120.03. The company has a market cap of $17.93 billion, a P/E ratio of 20.16, a PEG ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.144 per share. The ex-dividend date is Friday, April 4th. This is a positive change 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 18.79%.

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.