Okabena Investment Services Inc. Grows Position in InterContinental Hotels Group PLC (NYSE:IHG)

Okabena Investment Services Inc. grew its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,274 shares of the company’s stock after buying an additional 2,037 shares during the period. InterContinental Hotels Group comprises 0.7% of Okabena Investment Services Inc.’s holdings, making the stock its 29th biggest position. Okabena Investment Services Inc.’s holdings in InterContinental Hotels Group were worth $2,408,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Richardson Financial Services Inc. bought a new position in shares of InterContinental Hotels Group in the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its holdings in InterContinental Hotels Group by 67.3% in the 4th quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock worth $31,000 after buying an additional 101 shares during the period. SBI Securities Co. Ltd. bought a new position in InterContinental Hotels Group in the 4th quarter worth $42,000. Venturi Wealth Management LLC bought a new stake in InterContinental Hotels Group during the fourth quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after acquiring an additional 461 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Price Performance

NYSE:IHG opened at $109.41 on Friday. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a 1 year low of $91.57 and a 1 year high of $137.25. The stock’s 50 day simple moving average is $125.05 and its two-hundred day simple moving average is $120.71.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 4th will be paid a $1.144 dividend. This is a boost from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 4th. InterContinental Hotels Group’s dividend payout ratio (DPR) is presently 39.36%.

Wall Street Analysts Forecast Growth

IHG has been the subject of several research analyst reports. Sanford C. Bernstein upgraded 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 started coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.