Intercontinental Hotels Group (IHG) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp lifted its position in Intercontinental Hotels Group (NYSE:IHG) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,258 shares of the company’s stock after acquiring an additional 346 shares during the period. Bank of New York Mellon Corp’s holdings in Intercontinental Hotels Group were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of IHG. Ameriprise Financial Inc. boosted its stake in shares of Intercontinental Hotels Group by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock worth $328,000 after acquiring an additional 553 shares during the last quarter. Liberty Mutual Group Asset Management Inc. acquired a new position in Intercontinental Hotels Group during the first quarter worth $367,000. Greenleaf Trust boosted its stake in Intercontinental Hotels Group by 31.3% during the second quarter. Greenleaf Trust now owns 6,854 shares of the company’s stock worth $381,000 after buying an additional 1,633 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Intercontinental Hotels Group during the first quarter worth $533,000. Finally, Bank of America Corp DE boosted its stake in Intercontinental Hotels Group by 32.1% during the first quarter. Bank of America Corp DE now owns 12,141 shares of the company’s stock worth $594,000 after buying an additional 2,951 shares during the last quarter. 6.72% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Hotels Group (NYSE IHG) opened at 54.77 on Friday. The firm’s 50-day moving average price is $52.29 and its 200-day moving average price is $53.93. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 24.56 and a beta of 1.37. Intercontinental Hotels Group has a 1-year low of $39.84 and a 1-year high of $57.80.
The business also recently declared a special dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 1st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, August 30th.
IHG has been the topic of a number of recent research reports. Zacks Investment Research lowered Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. BidaskClub lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $52.60.
Intercontinental Hotels Group Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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