Advisors Asset Management Inc. Boosts Stake in InterContinental Hotels Group PLC (IHG)

Advisors Asset Management Inc. increased its holdings in InterContinental Hotels Group PLC (NYSE:IHG) by 2,301.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,381 shares of the company’s stock after buying an additional 10,907 shares during the period. Advisors Asset Management Inc.’s holdings in InterContinental Hotels Group were worth $602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IHG. Morgan Stanley boosted its holdings in shares of InterContinental Hotels Group by 0.6% in the 1st quarter. Morgan Stanley now owns 37,060 shares of the company’s stock valued at $1,814,000 after buying an additional 218 shares during the period. Bank of America Corp DE boosted its holdings in shares of InterContinental Hotels Group by 32.1% in the 1st quarter. Bank of America Corp DE now owns 12,141 shares of the company’s stock valued at $594,000 after buying an additional 2,951 shares during the period. Bank of New York Mellon Corp lifted its position in InterContinental Hotels Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,258 shares of the company’s stock valued at $792,000 after purchasing an additional 346 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in InterContinental Hotels Group in the 2nd quarter valued at about $8,207,000. Finally, CIBC World Markets Inc. lifted its position in InterContinental Hotels Group by 9.6% in the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after purchasing an additional 546 shares during the last quarter. 6.38% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on IHG. Zacks Investment Research downgraded shares of InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. BidaskClub downgraded shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Bank of America lifted their price objective on shares of InterContinental Hotels Group from $60.50 to $62.38 and gave the company a “buy” rating in a research report on Friday, October 20th. Morgan Stanley upgraded shares of InterContinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 29th. Finally, Credit Suisse Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.60.

InterContinental Hotels Group PLC (IHG) traded up $0.13 during mid-day trading on Tuesday, hitting $59.35. 187,000 shares of the company’s stock were exchanged, compared to its average volume of 139,799. InterContinental Hotels Group PLC has a one year low of $43.02 and a one year high of $59.94. The company has a debt-to-equity ratio of -1.92, a quick ratio of 0.72 and a current ratio of 0.73.

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InterContinental Hotels Group Profile

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

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

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