Advisor Partners LLC Makes New $201,000 Investment in InterContinental Hotels Group PLC (NYSE:IHG)

Advisor Partners LLC purchased a new position in InterContinental Hotels Group PLC (NYSE:IHG) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,232 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its position in InterContinental Hotels Group by 10.9% during the third quarter. CIBC Private Wealth Group LLC now owns 149,577 shares of the company’s stock valued at $9,316,000 after acquiring an additional 14,663 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in InterContinental Hotels Group by 4.5% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 162,436 shares of the company’s stock valued at $10,118,000 after purchasing an additional 7,001 shares in the last quarter. Royal Bank of Canada increased its stake in InterContinental Hotels Group by 21.7% during the 2nd quarter. Royal Bank of Canada now owns 117,565 shares of the company’s stock valued at $7,863,000 after purchasing an additional 21,002 shares in the last quarter. Private Capital Group LLC increased its stake in InterContinental Hotels Group by 26.6% during the 2nd quarter. Private Capital Group LLC now owns 762 shares of the company’s stock valued at $48,000 after purchasing an additional 160 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in InterContinental Hotels Group during the 2nd quarter valued at approximately $20,817,000. Institutional investors and hedge funds own 8.08% of the company’s stock.

A number of research analysts have issued reports on IHG shares. UBS Group lowered shares of InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lowered shares of InterContinental Hotels Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 12th. Zacks Investment Research lowered shares of InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Jefferies Financial Group started coverage on shares of InterContinental Hotels Group in a research note on Tuesday, September 17th. They set a “buy” rating on the stock. Finally, Berenberg Bank lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold”.

NYSE:IHG opened at $58.15 on Wednesday. The firm has a market capitalization of $10.66 billion, a P/E ratio of 20.12, a PEG ratio of 2.32 and a beta of 1.15. InterContinental Hotels Group PLC has a 1-year low of $50.84 and a 1-year high of $71.02. The company’s fifty day moving average price is $61.13 and its 200-day moving average price is $64.77.

About InterContinental Hotels Group

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, resorts, and restaurants under the InterContinental, KIMPTON, Hotel Indigo, EVEN HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Institutional Ownership by Quarter for InterContinental Hotels Group (NYSE:IHG)

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