Intercontinental Hotels Group (NYSE:IHG) Stock Position Lowered by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. has reduced its stake in Intercontinental Hotels Group by 14.9% during the first quarter, selling 6,367 shares, leaving it with 36,291 shares valued at approximately $3.98 million.
• Other investors, including Golden State Wealth Management LLC and TD Private Client Wealth LLC, have also increased their positions in Intercontinental Hotels Group, indicating varying trends among institutional investors.
• Deutsche Bank raised the company's rating from "sell" to "hold", contributing to a consensus average rating of "Hold" from analysts regarding Intercontinental Hotels Group stock.

Scotia Capital Inc. decreased its position in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,291 shares of the company's stock after selling 6,367 shares during the quarter. Scotia Capital Inc.'s holdings in Intercontinental Hotels Group were worth $3,977,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in Intercontinental Hotels Group by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. lifted its stake in Intercontinental Hotels Group by 186.3% during the first quarter. Whittier Trust Co. now owns 272 shares of the company's stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Intercontinental Hotels Group by 48.7% during the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock worth $38,000 after buying an additional 114 shares in the last quarter. Versant Capital Management Inc grew its position 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 worth $141,000 after buying an additional 1,127 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Intercontinental Hotels Group by 67.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company's stock valued at $176,000 after buying an additional 570 shares in the last quarter. Institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Trading Up 0.7%

IHG stock opened at $115.48 on Tuesday. Intercontinental Hotels Group has a one year low of $91.57 and a one year high of $137.25. The firm has a 50-day moving average of $116.53 and a two-hundred day moving average of $117.48. The firm has a market capitalization of $17.84 billion, a PE ratio of 20.47, a P/E/G ratio of 1.64 and a beta of 1.33.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft raised 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 given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

About Intercontinental Hotels Group

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.

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