JPMorgan Chase & Co. Purchases 73,361 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

JPMorgan Chase & Co. boosted its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 29.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 320,286 shares of the company’s stock after acquiring an additional 73,361 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of InterContinental Hotels Group worth $35,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of IHG. FMR LLC boosted its position in shares of InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after buying an additional 351,723 shares during the period. World Investment Advisors LLC acquired a new position in InterContinental Hotels Group during the third quarter worth $86,000. Bank of Montreal Can acquired a new stake in InterContinental Hotels Group in the 2nd quarter valued at about $3,892,000. Mediolanum International Funds Ltd acquired a new stake in InterContinental Hotels Group during the 3rd quarter valued at $1,699,000. Finally, Crossmark Global Holdings Inc. raised its position in shares of InterContinental Hotels Group by 86.6% in the third quarter. Crossmark Global Holdings Inc. now owns 32,392 shares of the company’s stock valued at $3,579,000 after purchasing an additional 15,031 shares during the period. Institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Stock Down 0.3 %

IHG opened at $122.37 on Tuesday. The company has a 50-day simple moving average of $123.49 and a 200 day simple moving average of $111.29. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.88 and a beta of 1.32. InterContinental Hotels Group PLC has a twelve month low of $90.62 and a twelve month high of $131.68.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IHG. The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

InterContinental Hotels Group Company Profile

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.