Corient Private Wealth LLC Sells 6,134 Shares of Intercontinental Hotels Group $IHG

Corient Private Wealth LLC decreased its holdings in Intercontinental Hotels Group (NYSE:IHG) by 29.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,950 shares of the company’s stock after selling 6,134 shares during the quarter. Corient Private Wealth LLC’s holdings in Intercontinental Hotels Group were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IHG. SBI Securities Co. Ltd. raised its position in Intercontinental Hotels Group by 20.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock worth $62,000 after acquiring an additional 76 shares during the period. Independent Advisor Alliance grew its position in shares of Intercontinental Hotels Group by 0.9% during the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock valued at $1,490,000 after acquiring an additional 91 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after acquiring an additional 91 shares during the period. Capital International Investors increased its stake in shares of Intercontinental Hotels Group by 2.5% in the 4th quarter. Capital International Investors now owns 3,838 shares of the company’s stock worth $544,000 after purchasing an additional 92 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Intercontinental Hotels Group by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 12,734 shares of the company’s stock worth $1,793,000 after purchasing an additional 95 shares during the period. 15.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IHG has been the topic of several analyst reports. Sanford C. Bernstein lifted their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group lifted their price objective on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday. One 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.50.

Intercontinental Hotels Group Trading Up 0.4%

Shares of IHG stock opened at $173.62 on Tuesday. Intercontinental Hotels Group has a 52 week low of $113.32 and a 52 week high of $175.89. The company’s fifty day simple moving average is $156.40 and its two-hundred day simple moving average is $144.74.

Intercontinental Hotels Group Company Profile

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.