Intercontinental Hotels Group (NYSE:IHG) Reaches New 12-Month High – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $157.69 and last traded at $157.0060, with a volume of 48386 shares changing hands. The stock had previously closed at $154.31.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday. Sanford C. Bernstein lifted their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Intercontinental Hotels Group Stock Performance

The stock has a 50 day moving average of $142.85 and a 200 day moving average of $139.38.

Intercontinental Hotels Group Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, May 14th. Stockholders of record on Friday, April 10th were paid a $1.259 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a dividend yield of 178.0%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its position in shares of Intercontinental Hotels Group by 178.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock valued at $25,000 after purchasing an additional 116 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Intercontinental Hotels Group by 1,453.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after buying an additional 189 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Intercontinental Hotels Group by 111.0% in the fourth 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. boosted its holdings in shares of Intercontinental Hotels Group by 72.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after buying an additional 91 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings 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 worth $38,000 after buying an additional 226 shares during the period. Institutional investors 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.