Intercontinental Hotels Group $IHG Stock Position Boosted by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its stake in shares of Intercontinental Hotels Group (NYSE:IHG) by 179.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,306 shares of the company’s stock after buying an additional 10,476 shares during the period. TD Waterhouse Canada Inc.’s holdings in Intercontinental Hotels Group were worth $2,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IHG. Jones Financial Companies Lllp raised its holdings in Intercontinental Hotels Group by 228.2% during the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after purchasing an additional 3,368 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Intercontinental Hotels Group by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after buying an additional 16,461 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Intercontinental Hotels Group by 44.9% in the second quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock valued at $290,000 after buying an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Intercontinental Hotels Group by 42.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock valued at $50,000 after buying an additional 129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Intercontinental Hotels Group by 56.3% during the second quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after acquiring an additional 336 shares during the period. 15.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IHG. Jefferies Financial Group upped their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a report on Friday, June 26th. Zacks Research upgraded shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. UBS Group raised shares of Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Wednesday, September 2nd. Sanford C. Bernstein boosted their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Intercontinental Hotels Group Trading Up 0.0%

Shares of NYSE:IHG opened at $160.01 on Tuesday. Intercontinental Hotels Group has a 1 year low of $117.29 and a 1 year high of $175.89. The business has a fifty day simple moving average of $161.07 and a 200 day simple moving average of $152.02.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 21st will be issued a dividend of $0.645 per share. This represents a dividend yield of 81.0%. The ex-dividend date is Friday, August 21st.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.