CIBC Private Wealth Group LLC Has $42.52 Million Holdings in Intercontinental Hotels Group $IHG

CIBC Private Wealth Group LLC boosted its stake in Intercontinental Hotels Group (NYSE:IHG) by 4.9% in the third quarter, HoldingsChannel.com reports. The firm owned 350,648 shares of the company’s stock after buying an additional 16,278 shares during the period. CIBC Private Wealth Group LLC’s holdings in Intercontinental Hotels Group were worth $42,520,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Intercontinental Hotels Group by 125.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after buying an additional 251,647 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Intercontinental Hotels Group during the second quarter worth about $306,000. Envestnet Asset Management Inc. lifted its stake in shares of Intercontinental Hotels Group by 10.4% in the third quarter. Envestnet Asset Management Inc. now owns 86,140 shares of the company’s stock worth $10,445,000 after acquiring an additional 8,099 shares during the period. Walter Public Investments Inc. acquired a new position in shares of Intercontinental Hotels Group in the third quarter worth approximately $1,629,000. Finally, Natixis Advisors LLC boosted its holdings in Intercontinental Hotels Group by 9.0% in the third quarter. Natixis Advisors LLC now owns 448,244 shares of the company’s stock valued at $54,354,000 after acquiring an additional 36,946 shares during the last quarter. 15.09% of the stock is owned by institutional investors.

Intercontinental Hotels Group Trading Down 1.5%

Shares of IHG opened at $131.39 on Thursday. The business’s fifty day moving average is $138.72 and its 200 day moving average is $132.09. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $150.89.

Intercontinental Hotels Group Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, April 10th will be paid a $1.259 dividend. This represents a dividend yield of 191.0%. The ex-dividend date of this dividend is Friday, April 10th.

Analysts Set New Price Targets

A number of research firms have weighed in on IHG. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Intercontinental Hotels Group 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.