Northern Trust Corp Has $11.18 Million Stake in InterContinental Hotels Group PLC (IHG)
Northern Trust Corp lifted its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,318 shares of the company’s stock after buying an additional 7,496 shares during the period. Northern Trust Corp owned approximately 0.09% of InterContinental Hotels Group worth $11,176,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG raised its holdings in InterContinental Hotels Group by 238.8% during the first quarter. UBS Group AG now owns 2,175 shares of the company’s stock worth $133,000 after purchasing an additional 1,533 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in InterContinental Hotels Group by 133.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,625 shares of the company’s stock worth $161,000 after purchasing an additional 1,502 shares in the last quarter. CIBC World Markets Inc. bought a new stake in InterContinental Hotels Group during the second quarter worth approximately $202,000. Suntrust Banks Inc. bought a new stake in InterContinental Hotels Group during the first quarter worth approximately $206,000. Finally, Greenleaf Trust raised its holdings in InterContinental Hotels Group by 24.1% during the second quarter. Greenleaf Trust now owns 6,142 shares of the company’s stock worth $385,000 after purchasing an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 7.19% of the company’s stock.
Several brokerages recently commented on IHG. Raymond James cut InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, September 4th. Citigroup cut InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a report on Monday, September 3rd. Finally, Zacks Investment Research cut InterContinental Hotels Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.00.
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InterContinental Hotels Group 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, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.
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