First Trust Direct Indexing L.P. Decreases Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

First Trust Direct Indexing L.P. lessened its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 11,437 shares of the company’s stock after selling 557 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in InterContinental Hotels Group were worth $1,264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IHG. Russell Investments Group Ltd. boosted its holdings in InterContinental Hotels Group by 46.9% in the 1st quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock worth $35,000 after acquiring an additional 106 shares during the period. Rothschild Investment LLC purchased a new position in InterContinental Hotels Group in the 2nd quarter worth approximately $36,000. Allspring Global Investments Holdings LLC purchased a new position in shares of InterContinental Hotels Group during the 1st quarter valued at approximately $48,000. EverSource Wealth Advisors LLC boosted its stake in shares of InterContinental Hotels Group by 65.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after buying an additional 191 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in shares of InterContinental Hotels Group during the 2nd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Trading Down 1.2 %

InterContinental Hotels Group stock opened at $111.47 on Friday. The stock has a market cap of $17.75 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.32. The stock has a 50 day moving average of $107.51 and a 200-day moving average of $103.49. InterContinental Hotels Group PLC has a 52 week low of $71.01 and a 52 week high of $115.25.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, August 30th were paid a dividend of $0.532 per share. This is a boost from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a dividend yield of 1.6%. The ex-dividend date was Friday, August 30th. InterContinental Hotels Group’s dividend payout ratio is 21.63%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, InterContinental Hotels Group presently has a consensus rating of “Hold”.

InterContinental Hotels Group 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.