Wells Fargo & Company MN lowered its holdings in Intercontinental Hotels Group (NYSE:IHG) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,673 shares of the company’s stock after selling 33 shares during the quarter. Wells Fargo & Company MN’s holdings in Intercontinental Hotels Group were worth $427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC World Markets Inc. lifted its holdings 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 worth $345,000 after buying an additional 546 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Intercontinental Hotels Group by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock valued at $328,000 after purchasing an additional 553 shares during the period. Greenleaf Trust lifted its stake in shares of Intercontinental Hotels Group by 31.3% in the 2nd quarter. Greenleaf Trust now owns 6,854 shares of the company’s stock valued at $381,000 after purchasing an additional 1,633 shares during the period. Bank of America Corp DE lifted its stake 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 purchasing an additional 2,951 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Intercontinental Hotels Group by 14.5% in the 1st quarter. Bank of New York Mellon Corp now owns 13,912 shares of the company’s stock valued at $680,000 after purchasing an additional 1,766 shares during the period. Institutional investors and hedge funds own 6.65% of the company’s stock.

Shares of Intercontinental Hotels Group (IHG) opened at $56.27 on Wednesday. Intercontinental Hotels Group has a fifty-two week low of $41.27 and a fifty-two week high of $57.80. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of -1.92.

A number of research analysts have issued reports on the company. Credit Suisse Group upgraded Intercontinental Hotels Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, October 23rd. Bank of America Corporation lifted their price objective on Intercontinental Hotels Group from $60.50 to $62.38 and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, BidaskClub cut Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.60.

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About Intercontinental Hotels Group

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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