Intercontinental Hotels Group (NYSE:IHG) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,563 shares of the company's stock after acquiring an additional 3,459 shares during the period. Bank of New York Mellon Corp's holdings in Intercontinental Hotels Group were worth $1,925,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in shares of Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc lifted its stake in Intercontinental Hotels Group by 722.4% in the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company's stock valued at $141,000 after purchasing an additional 1,127 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Intercontinental Hotels Group by 67.9% in the 4th quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company's stock valued at $176,000 after acquiring an additional 570 shares during the period. Farringdon Capital Ltd. bought a new stake in Intercontinental Hotels Group during the 4th quarter valued at $214,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Intercontinental Hotels Group by 4.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock valued at $232,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Intercontinental Hotels Group has an average rating of "Hold".

Intercontinental Hotels Group Stock Down 1.3%

Intercontinental Hotels Group stock traded down $1.52 during midday trading on Friday, reaching $114.64. 160,989 shares of the stock traded hands, compared to its average volume of 230,854. The stock has a market cap of $17.72 billion, a P/E ratio of 20.33, a PEG ratio of 1.69 and a beta of 1.33. Intercontinental Hotels Group has a 12 month low of $91.57 and a 12 month high of $137.25. The stock's fifty day moving average is $116.63 and its 200-day moving average is $117.72.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.