Corient Private Wealth LP Has $1.98 Million Stock Holdings in Intercontinental Hotels Group $IHG

Corient Private Wealth LP boosted its position in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 254.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,436 shares of the company's stock after buying an additional 8,211 shares during the period. Corient Private Wealth LP's holdings in Intercontinental Hotels Group were worth $1,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ABC Arbitrage SA raised its holdings in Intercontinental Hotels Group by 31.0% during the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company's stock worth $17,918,000 after buying an additional 31,754 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Intercontinental Hotels Group by 1.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company's stock valued at $100,006,000 after acquiring an additional 9,235 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Intercontinental Hotels Group by 179.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 16,306 shares of the company's stock valued at $2,747,000 after purchasing an additional 10,476 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Intercontinental Hotels Group in the second quarter valued at approximately $3,259,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Intercontinental Hotels Group by 55.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company's stock valued at $54,261,000 after buying an additional 145,360 shares during the last quarter. Institutional investors own 15.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price objective on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Zacks Research raised Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Finally, UBS Group raised Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 target price for the company in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $179.00.

Intercontinental Hotels Group Trading Up 0.9%

Intercontinental Hotels Group stock opened at $156.25 on Thursday. The firm has a 50 day simple moving average of $158.29 and a 200 day simple moving average of $153.23. Intercontinental Hotels Group has a 1-year low of $117.29 and a 1-year high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 21st will be issued a $0.645 dividend. This represents a dividend yield of 81.0%. The ex-dividend date of this dividend is Friday, August 21st.

Intercontinental Hotels Group Profile

InterContinental Hotels Group PLC NYSE: IHG, commonly known as IHG Hotels & Resorts, is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio spans luxury, upscale, midscale and extended-stay segments, serving business and leisure travelers in markets around the world.

IHG's brand portfolio includes InterContinental, Regent, Six Senses, Vignette Collection, Kimpton, Hotel Indigo, voco, Crowne Plaza, Holiday Inn, Holiday Inn Express, Garner, avid hotels, Candlewood Suites and Staybridge Suites.

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