Intercontinental Hotels Group (NYSE:IHG) Hits New 12-Month High – What’s Next?

Intercontinental Hotels Group (NYSE:IHG)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $151.45 and last traded at $151.4930, with a volume of 14835 shares changing hands. The stock had previously closed at $150.16.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IHG shares. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Intercontinental Hotels Group Stock Performance

The company has a fifty day moving average price of $138.33 and a two-hundred day moving average price of $137.15.

Intercontinental Hotels Group Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, April 10th will be issued a dividend of $1.259 per share. This represents a yield of 178.0%. The ex-dividend date of this dividend is Friday, April 10th.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its stake in shares of Intercontinental Hotels Group by 178.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after purchasing an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Intercontinental Hotels Group by 1,453.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Intercontinental Hotels Group by 111.0% during the 4th quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock worth $30,000 after buying an additional 111 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of Intercontinental Hotels Group by 72.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after buying an additional 91 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Intercontinental Hotels Group by 525.6% in the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

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.