Mitchell & Pahl Private Wealth LLC Buys 177 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Mitchell & Pahl Private Wealth LLC lifted its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 1.6% in the third quarter, HoldingsChannel.com reports. The fund owned 11,485 shares of the company’s stock after purchasing an additional 177 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in InterContinental Hotels Group were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of InterContinental Hotels Group by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after buying an additional 106 shares during the period. Rothschild Investment LLC bought a new stake in shares of InterContinental Hotels Group during the 2nd quarter valued at about $36,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of InterContinental Hotels Group during the 1st quarter valued at about $48,000. EverSource Wealth Advisors LLC lifted its stake in shares of InterContinental Hotels Group by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock worth $48,000 after purchasing an additional 191 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in shares of InterContinental Hotels Group in the second quarter worth approximately $50,000. Institutional investors own 15.09% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of 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 given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

Shares of NYSE:IHG traded up $0.69 during trading on Thursday, hitting $113.48. 42,225 shares of the company’s stock were exchanged, compared to its average volume of 179,245. The business’s 50-day simple moving average is $103.73 and its 200 day simple moving average is $102.63. InterContinental Hotels Group PLC has a 52-week low of $70.06 and a 52-week high of $114.20.

InterContinental Hotels Group Increases Dividend

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

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.