JPMorgan Chase & Co. Acquires 251,647 Shares of Intercontinental Hotels Group $IHG

by · The Cerbat Gem

JPMorgan Chase & Co. boosted its holdings in Intercontinental Hotels Group (NYSE:IHG – Free Report) by 125.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 451,823 shares of the company’s stock after purchasing an additional 251,647 shares during the quarter. JPMorgan Chase & Co.’s holdings in Intercontinental Hotels Group were worth $52,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northern Trust Corp boosted its position in shares of Intercontinental Hotels Group by 3.2% during the 1st quarter. Northern Trust Corp now owns 150,918 shares of the company’s stock worth $16,539,000 after purchasing an additional 4,644 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Intercontinental Hotels Group during the 2nd quarter worth approximately $250,000. Callan Family Office LLC boosted its holdings in Intercontinental Hotels Group by 51.2% in the second quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock worth $1,046,000 after acquiring an additional 3,071 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Intercontinental Hotels Group in the second quarter valued at approximately $292,000. Finally, Bank of Montreal Can bought a new stake in shares of Intercontinental Hotels Group during the second quarter valued at approximately $306,000. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Stock Down 1.1%

IHG opened at $134.18 on Monday. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $137.25. The firm’s fifty day moving average price is $124.87 and its two-hundred day moving average price is $120.72.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IHG. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Wall Street Zen lowered shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intercontinental Hotels Group currently has a consensus rating of “Hold”.

Check Out Our Latest Stock Analysis on Intercontinental Hotels Group

Intercontinental Hotels Group Profile

(Free Report)

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.

Further Reading

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