The JPMorgan Chase & Co. Increases Position in InterContinental Hotels Group PLC (IHG)

The JPMorgan Chase & Co. Increases Position in InterContinental Hotels Group PLC (IHG)

JPMorgan Chase & Co. boosted its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 49.0% during the second quarter, Holdings Channel reports. The firm owned 145,511 shares of the company’s stock after buying an additional 47,883 shares during the period. JPMorgan Chase & Co. owned about 0.06% of InterContinental Hotels Group PLC worth $5,458,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CIBC World Markets Inc. purchased a new stake in InterContinental Hotels Group PLC during the second quarter valued at approximately $266,000. First Trust Advisors LP acquired a new position in InterContinental Hotels Group PLC during the second quarter worth about $609,000. Goldman Sachs Group Inc. boosted its position in InterContinental Hotels Group PLC by 10.1% in the first quarter. Goldman Sachs Group Inc. now owns 99,476 shares of the company’s stock worth $4,105,000 after buying an additional 9,166 shares during the last quarter. Societe Generale acquired a new position in InterContinental Hotels Group PLC during the second quarter worth about $643,000. Finally, Bank of Montreal Can acquired a new position in InterContinental Hotels Group PLC during the second quarter worth about $538,000. 5.63% of the stock is owned by institutional investors.

InterContinental Hotels Group PLC (NYSE:IHG) traded down 1.05% during mid-day trading on Thursday, reaching $39.72. The company had a trading volume of 24,337 shares. InterContinental Hotels Group PLC has a one year low of $34.63 and a one year high of $50.58. The company has a market capitalization of $9.06 billion, a P/E ratio of 8.06 and a beta of 1.33. The stock has a 50 day moving average price of $42.47 and a 200 day moving average price of $42.20.

The company also recently declared a dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 2nd were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, August 31st.

IHG has been the subject of a number of research analyst reports. Goldman Sachs Group Inc. cut InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Zacks Investment Research cut InterContinental Hotels Group PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Beaufort Securities reissued a “buy” rating on shares of InterContinental Hotels Group PLC in a research note on Wednesday, August 3rd. Citigroup Inc. reissued a “neutral” rating on shares of InterContinental Hotels Group PLC in a research note on Wednesday, August 3rd. Finally, HSBC initiated coverage on InterContinental Hotels Group PLC in a research note on Monday, September 19th. They issued a “reduce” rating for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold”.

InterContinental Hotels Group PLC Company Profile

InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.

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