CIBC Private Wealth Group LLC Has $42.52 Million Holdings in Intercontinental Hotels Group $IHG

CIBC Private Wealth Group LLC increased its holdings in Intercontinental Hotels Group (NYSE:IHG) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,648 shares of the company’s stock after buying an additional 16,278 shares during the period. CIBC Private Wealth Group LLC owned 0.23% of Intercontinental Hotels Group worth $42,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in IHG. Goldman Sachs Group Inc. increased its stake in Intercontinental Hotels Group by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after acquiring an additional 16,461 shares during the period. Bank of America Corp DE lifted its position in shares of Intercontinental Hotels Group by 0.8% during the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock valued at $60,835,000 after acquiring an additional 4,080 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Intercontinental Hotels Group by 29.5% during the 3rd quarter. Lazard Asset Management LLC now owns 460,897 shares of the company’s stock worth $55,888,000 after purchasing an additional 105,034 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Intercontinental Hotels Group by 125.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock worth $52,113,000 after purchasing an additional 251,647 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Intercontinental Hotels Group by 9.0% in the third quarter. Natixis Advisors LLC now owns 448,244 shares of the company’s stock worth $54,354,000 after purchasing an additional 36,946 shares during the period. 15.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Hotels Group currently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Price Performance

Shares of IHG stock opened at $131.39 on Thursday. The business’s 50-day moving average price is $138.72 and its 200-day moving average price is $132.09. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $150.89.

Intercontinental Hotels Group Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, May 14th. Investors of record on Friday, April 10th will be given a dividend of $1.259 per share. The ex-dividend date is Friday, April 10th. This represents a yield of 191.0%.

About Intercontinental Hotels Group

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.