Public Employees Retirement System of Ohio Takes $3.26 Million Position in Intercontinental Hotels Group $IHG

Public Employees Retirement System of Ohio acquired a new stake in shares of Intercontinental Hotels Group (NYSE:IHG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,825 shares of the company’s stock, valued at approximately $3,259,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ABC Arbitrage SA increased its stake in shares of Intercontinental Hotels Group by 31.0% in the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock worth $17,918,000 after purchasing an additional 31,754 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Intercontinental Hotels Group by 1.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock worth $100,006,000 after buying an additional 9,235 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after buying an additional 145,360 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Intercontinental Hotels Group by 198.5% during the first quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock valued at $8,088,000 after acquiring an additional 40,300 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of Intercontinental Hotels Group by 25.0% in the first quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock valued at $12,448,000 after acquiring an additional 18,631 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IHG. Sanford C. Bernstein upped their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research note on Friday, May 15th. Zacks Research upgraded Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Jefferies Financial Group increased their price objective 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. UBS Group upgraded shares of Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price objective on the stock in a research report on Wednesday. Finally, Weiss Ratings restated 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.00.

Intercontinental Hotels Group Trading Down 0.5%

NYSE:IHG opened at $160.01 on Friday. The business’s 50-day moving average is $161.35 and its 200 day moving average is $151.89. Intercontinental Hotels Group has a 12 month low of $117.29 and a 12 month high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed 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 of this dividend 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.