Intercontinental Hotels Group $IHG Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 158.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,649 shares of the company’s stock after purchasing an additional 5,912 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Intercontinental Hotels Group were worth $1,170,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in Intercontinental Hotels Group by 42.3% during the second 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 in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Intercontinental Hotels Group by 136.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 473 shares of the company’s stock valued at $57,000 after acquiring an additional 273 shares during the period. MAI Capital Management lifted its holdings in shares of Intercontinental Hotels Group by 330.6% during the 2nd quarter. MAI Capital Management now owns 676 shares of the company’s stock valued at $78,000 after acquiring an additional 519 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Intercontinental Hotels Group by 56.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after purchasing an additional 336 shares during the period. Finally, Assetmark Inc. increased its holdings in Intercontinental Hotels Group by 27.1% in the 2nd quarter. Assetmark Inc. now owns 1,036 shares of the company’s stock valued at $119,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Performance

IHG stock opened at $142.64 on Tuesday. The stock’s 50 day moving average is $140.97 and its two-hundred day moving average is $130.55. Intercontinental Hotels Group has a 52-week low of $94.78 and a 52-week high of $150.89.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. Finally, Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

About Intercontinental Hotels Group

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.