JPMorgan Chase & Co. Trims Stock Holdings in Intercontinental Hotels Group $IHG

by · The Markets Daily

JPMorgan Chase & Co. trimmed its holdings in Intercontinental Hotels Group (NYSE:IHG – Free Report) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,970 shares of the company’s stock after selling 12,853 shares during the quarter. JPMorgan Chase & Co. owned about 0.29% of Intercontinental Hotels Group worth $53,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in IHG. Goldman Sachs Group Inc. lifted its position in Intercontinental Hotels Group by 2.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after acquiring an additional 16,461 shares in the last quarter. Lazard Asset Management LLC increased its stake in Intercontinental Hotels Group by 98.4% in the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after buying an additional 176,502 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Intercontinental Hotels Group by 67.0% during the second quarter. BNP Paribas Financial Markets now owns 183,301 shares of the company’s stock valued at $21,142,000 after buying an additional 73,545 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Intercontinental Hotels Group by 369.2% in the second quarter. Marshall Wace LLP now owns 172,622 shares of the company’s stock worth $19,910,000 after purchasing an additional 135,829 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Intercontinental Hotels Group by 137.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,489 shares of the company’s stock worth $15,512,000 after acquiring an additional 77,883 shares during the last quarter. 15.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on IHG. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd. Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Finally, Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Hotels Group has a consensus rating of “Moderate Buy”.

View Our Latest Research Report on Intercontinental Hotels Group

Intercontinental Hotels Group Trading Down 0.6%

Intercontinental Hotels Group stock opened at $140.51 on Thursday. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $150.89. The stock has a 50-day moving average of $140.96 and a two-hundred day moving average of $130.77.

Intercontinental Hotels Group Company Profile

(Free Report)

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.

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