ABC Arbitrage SA Has $14.44 Million Holdings in Intercontinental Hotels Group $IHG

ABC Arbitrage SA lessened its holdings in Intercontinental Hotels Group (NYSE:IHG) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,505 shares of the company’s stock after selling 28,872 shares during the quarter. Intercontinental Hotels Group accounts for approximately 1.3% of ABC Arbitrage SA’s holdings, making the stock its 21st biggest holding. ABC Arbitrage SA’s holdings in Intercontinental Hotels Group were worth $14,436,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC bought a new stake in Intercontinental Hotels Group in the fourth quarter valued at $230,000. NewEdge Wealth LLC boosted its position in Intercontinental Hotels Group by 15.0% in the fourth quarter. NewEdge Wealth LLC now owns 4,774 shares of the company’s stock valued at $672,000 after buying an additional 623 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Intercontinental Hotels Group by 19.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 17,081 shares of the company’s stock worth $2,405,000 after buying an additional 2,777 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Intercontinental Hotels Group by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,786 shares of the company’s stock worth $252,000 after buying an additional 97 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Intercontinental Hotels Group by 20.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock valued at $62,000 after acquiring an additional 76 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IHG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Berenberg Bank upgraded Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Intercontinental Hotels Group Stock Down 0.8%

NYSE:IHG opened at $148.47 on Tuesday. The stock’s fifty day moving average price is $137.79 and its two-hundred day moving average price is $136.78. Intercontinental Hotels Group has a 52-week low of $109.79 and a 52-week high of $151.18.

Intercontinental Hotels Group Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, May 14th. Stockholders of record on Friday, April 10th will be paid a dividend of $1.259 per share. This represents a dividend yield of 178.0%. The ex-dividend date of this dividend is Friday, April 10th.

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.