InterContinental Hotels Group PLC (NYSE:IHG) Receives $5,466.67 Consensus Target Price from Analysts

InterContinental Hotels Group PLC (NYSE:IHG – Get Rating) has received an average recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5,466.67.

A number of equity analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. JPMorgan Chase & Co. decreased their price target on InterContinental Hotels Group from GBX 6,200 ($78.23) to GBX 6,000 ($75.71) in a research note on Wednesday, February 22nd. Barclays lowered InterContinental Hotels Group from an “overweight” rating to an “equal weight” rating in a research note on Monday, March 6th. Jefferies Financial Group increased their price objective on InterContinental Hotels Group from GBX 5,500 ($69.40) to GBX 6,200 ($78.23) in a research report on Tuesday, January 24th. Finally, Peel Hunt downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, January 30th.

InterContinental Hotels Group Price Performance

Shares of IHG stock opened at $66.49 on Friday. The business has a 50 day simple moving average of $67.80 and a 200 day simple moving average of $64.55. InterContinental Hotels Group has a 12-month low of $47.06 and a 12-month high of $72.10.

InterContinental Hotels Group Increases Dividends

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The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, May 16th. Stockholders of record on Friday, March 31st will be issued a $0.945 dividend. The ex-dividend date is Thursday, March 30th. This represents a dividend yield of 1.9%. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.44.

Institutional Trading of InterContinental Hotels Group

Several hedge funds and other institutional investors have recently modified their holdings of IHG. Renaissance Technologies LLC increased its position in InterContinental Hotels Group by 57.1% during the first quarter. Renaissance Technologies LLC now owns 34,400 shares of the company’s stock worth $2,291,000 after buying an additional 12,500 shares during the last quarter. Wetherby Asset Management Inc. increased its position in InterContinental Hotels Group by 3.6% during the first quarter. Wetherby Asset Management Inc. now owns 11,541 shares of the company’s stock worth $769,000 after buying an additional 399 shares during the last quarter. BlackRock Inc. increased its position in InterContinental Hotels Group by 8.0% during the first quarter. BlackRock Inc. now owns 187,064 shares of the company’s stock worth $12,458,000 after buying an additional 13,930 shares during the last quarter. Bank of America Corp DE grew its position in shares of InterContinental Hotels Group by 0.7% in the first quarter. Bank of America Corp DE now owns 158,872 shares of the company’s stock valued at $10,581,000 after purchasing an additional 1,110 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of InterContinental Hotels Group by 11.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,361 shares of the company’s stock valued at $357,000 after purchasing an additional 536 shares during the last quarter. 4.67% of the stock is currently owned by hedge funds and other institutional investors.

About InterContinental Hotels Group

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InterContinental Hotels Group Plc owns and operates hotels. The firm’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton and HUALUXE Hotels and Resorts. It operates through the following segments: Europe, Middle East, Asia and Africa, Americas, Greater China and Central.