InterContinental Hotels Group (NYSE:IHG) Sets New 12-Month High – Still a Buy?

InterContinental Hotels Group PLC (NYSE:IHG) shares reached a new 52-week high on Monday . The stock traded as high as $114.33 and last traded at $114.32, with a volume of 4620 shares traded. The stock had previously closed at $113.75.

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 report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.

InterContinental Hotels Group Trading Up 1.6 %

The stock has a fifty day moving average of $104.94 and a two-hundred day moving average of $102.85. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.73 and a beta of 1.32.

InterContinental Hotels Group Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, August 30th were paid a $0.532 dividend. The ex-dividend date was Friday, August 30th. This is a positive change from InterContinental Hotels Group’s previous Semi-Annual dividend of $0.30. This represents a dividend yield of 1.6%. InterContinental Hotels Group’s dividend payout ratio (DPR) is 21.54%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in shares of InterContinental Hotels Group by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after acquiring an additional 174 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of InterContinental Hotels Group in the 1st quarter valued at $223,000. Ballentine Partners LLC bought a new stake in shares of InterContinental Hotels Group during the first quarter worth $227,000. Allspring Global Investments Holdings LLC acquired a new position in shares of InterContinental Hotels Group during the first quarter valued at $48,000. Finally, Private Advisor Group LLC boosted its stake in shares of InterContinental Hotels Group by 20.5% in the 1st quarter. Private Advisor Group LLC now owns 3,212 shares of the company’s stock valued at $339,000 after purchasing an additional 547 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Company 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.