QRG Capital Management Inc. Acquires 4,733 Shares of Intercontinental Hotels Group $IHG

QRG Capital Management Inc. lifted its holdings in Intercontinental Hotels Group (NYSE:IHG) by 46.4% in the 1st quarter, Holdings Channel reports. The firm owned 14,924 shares of the company’s stock after buying an additional 4,733 shares during the quarter. QRG Capital Management Inc.’s holdings in Intercontinental Hotels Group were worth $1,992,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IHG. Jones Financial Companies Lllp boosted its stake in shares of Intercontinental Hotels Group by 228.2% during the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after acquiring an additional 3,368 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Intercontinental Hotels Group by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after purchasing an additional 16,461 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Intercontinental Hotels Group by 44.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock worth $290,000 after buying an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Intercontinental Hotels Group by 42.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock valued at $50,000 after buying an additional 129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Intercontinental Hotels Group by 56.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after acquiring an additional 336 shares during the period. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Stock Performance

NYSE IHG traded up $1.01 during midday trading on Tuesday, hitting $167.42. The company had a trading volume of 122,511 shares, compared to its average volume of 250,017. The firm has a fifty day simple moving average of $158.91 and a two-hundred day simple moving average of $145.87. Intercontinental Hotels Group has a fifty-two week low of $113.32 and a fifty-two week high of $175.89.

Analyst Ratings Changes

IHG has been the subject of a number of research analyst reports. Sanford C. Bernstein boosted their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research report on Friday, May 15th. Jefferies Financial Group raised their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Intercontinental Hotels Group Company Profile

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.