Bank of New York Mellon Corp Acquires 502 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Bank of New York Mellon Corp boosted its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,104 shares of the company’s stock after purchasing an additional 502 shares during the period. Bank of New York Mellon Corp’s holdings in InterContinental Hotels Group were worth $1,762,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in InterContinental Hotels Group by 5.8% in the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock valued at $705,758,000 after buying an additional 351,723 shares during the period. ABC Arbitrage SA purchased a new stake in InterContinental Hotels Group in the 4th quarter valued at about $11,846,000. World Investment Advisors LLC purchased a new stake in InterContinental Hotels Group in the 3rd quarter valued at about $86,000. JPMorgan Chase & Co. lifted its position in shares of InterContinental Hotels Group by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after purchasing an additional 73,361 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of InterContinental Hotels Group in the 3rd quarter worth approximately $519,000. 15.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IHG. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Morgan Stanley cut shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Finally, Citigroup initiated coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They set a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

NYSE:IHG opened at $109.65 on Friday. The company’s fifty day moving average price is $126.41 and its 200-day moving average price is $120.45. InterContinental Hotels Group PLC has a 1-year low of $91.57 and a 1-year high of $137.25. The firm has a market capitalization of $17.26 billion, a P/E ratio of 19.44, a PEG ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be issued a dividend of $1.144 per share. The ex-dividend date is Friday, April 4th. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a yield of 1.4%. InterContinental Hotels Group’s dividend payout ratio is 39.36%.

About InterContinental Hotels Group

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.