Arrowstreet Capital Limited Partnership Has $54.26 Million Stock Holdings in Intercontinental Hotels Group $IHG

Key Points

• Arrowstreet Capital increased its IHG position by 55.6% in the first quarter, acquiring 145,360 additional shares. Its holdings totaled 406,572 shares valued at approximately $54.26 million, or 0.27% of the company.
• Other major institutional investors, including CCLA Investment Management, Morgan Stanley, Goldman Sachs, Bank of America, and Natixis Advisors, also expanded or initiated positions. Institutional investors collectively own 15.09% of IHG.
• IHG shares opened at $159.76, within a 52-week range of $113.32 to $175.89. Analysts maintain a “Moderate Buy” consensus with an average price target of $174.50, including Jefferies’ $195 target and “buy” rating.

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 55.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 406,572 shares of the company's stock after buying an additional 145,360 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.27% of Intercontinental Hotels Group worth $54,261,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IHG. CCLA Investment Management bought a new position in shares of Intercontinental Hotels Group in the fourth quarter worth about $114,306,000. Morgan Stanley grew its stake in shares of Intercontinental Hotels Group by 3.9% during the fourth quarter. Morgan Stanley now owns 764,049 shares of the company's stock worth $107,601,000 after buying an additional 28,526 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Intercontinental Hotels Group by 1.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company's stock worth $100,006,000 after buying an additional 9,235 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Intercontinental Hotels Group by 0.8% during the third quarter. Bank of America Corp DE now owns 501,692 shares of the company's stock worth $60,835,000 after buying an additional 4,080 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Intercontinental Hotels Group by 3.9% in the 4th quarter. Natixis Advisors LLC now owns 465,747 shares of the company's stock valued at $65,591,000 after acquiring an additional 17,503 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Price Performance

NYSE:IHG opened at $159.76 on Tuesday. Intercontinental Hotels Group has a fifty-two week low of $113.32 and a fifty-two week high of $175.89. The company has a 50 day simple moving average of $162.79 and a two-hundred day simple moving average of $147.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein raised their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a "market perform" rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Finally, Jefferies Financial Group increased their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, June 26th. 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 company. According to MarketBeat.com, Intercontinental Hotels Group has a consensus rating of "Moderate Buy" and an average target price of $174.50.

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.

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