Intercontinental Hotels Group $IHG Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in Intercontinental Hotels Group (NYSE:IHG) by 20.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,030 shares of the company’s stock after selling 36,905 shares during the period. BNP Paribas Financial Markets owned approximately 0.09% of Intercontinental Hotels Group worth $20,143,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Intercontinental Hotels Group by 29.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 869 shares of the company’s stock worth $122,000 after acquiring an additional 197 shares during the period. Savant Capital LLC purchased a new stake in Intercontinental Hotels Group in the 4th quarter valued at approximately $249,000. Moors & Cabot Inc. lifted its stake in Intercontinental Hotels Group by 2.3% in the 4th quarter. Moors & Cabot Inc. now owns 4,297 shares of the company’s stock valued at $605,000 after buying an additional 98 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Intercontinental Hotels Group by 25.4% in the 4th quarter. Hantz Financial Services Inc. now owns 11,479 shares of the company’s stock valued at $1,617,000 after buying an additional 2,328 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Intercontinental Hotels Group in the 4th quarter valued at approximately $2,415,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Performance

NYSE:IHG opened at $162.20 on Friday. The company’s 50-day moving average is $146.07 and its two-hundred day moving average is $140.49. Intercontinental Hotels Group has a 12-month low of $109.79 and a 12-month high of $163.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein upped their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research note on Friday, May 15th. Weiss Ratings restated 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 given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Hotels Group presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

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.