Intercontinental Hotels Group (NYSE:IHG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a buy rating in a report published on Sunday morning.

IHG has been the subject of several other research reports. Morgan Stanley raised Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Intercontinental Hotels Group has an average rating of “Hold”.

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG opened at $121.95 on Friday. The company has a market cap of $18.59 billion, a PE ratio of 21.62, a P/E/G ratio of 1.74 and a beta of 1.24. The business has a 50-day simple moving average of $121.44 and a two-hundred day simple moving average of $116.64. Intercontinental Hotels Group has a fifty-two week low of $94.78 and a fifty-two week high of $137.25.

Intercontinental Hotels Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, August 22nd were given a dividend of $0.566 per share. This represents a yield of 140.0%. The ex-dividend date was Friday, August 22nd. Intercontinental Hotels Group’s dividend payout ratio (DPR) is currently 20.04%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IHG. JPMorgan Chase & Co. raised its position in Intercontinental Hotels Group by 125.7% during the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after acquiring an additional 251,647 shares in the last quarter. Millennium Management LLC raised its position in Intercontinental Hotels Group by 170.5% during the first quarter. Millennium Management LLC now owns 305,177 shares of the company’s stock valued at $33,444,000 after acquiring an additional 192,342 shares in the last quarter. Lazard Asset Management LLC raised its position in Intercontinental Hotels Group by 98.4% during the second quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock valued at $41,044,000 after acquiring an additional 176,502 shares in the last quarter. Marshall Wace LLP raised its position in Intercontinental Hotels Group by 369.2% during the second quarter. Marshall Wace LLP now owns 172,622 shares of the company’s stock valued at $19,910,000 after acquiring an additional 135,829 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new position in Intercontinental Hotels Group during the second quarter valued at approximately $11,987,000. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

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.