Royal Bank of Canada Sells 11,145 Shares of Intercontinental Hotels Group $IHG

Key Points

• Royal Bank of Canada reduced its Intercontinental Hotels Group stake by 2.4%, selling 11,145 shares and retaining 454,016 shares valued at approximately $60.6 million.
• Institutional ownership remains notable, with hedge funds and other institutions holding 15.09% of IHG; several major firms, including Morgan Stanley and Goldman Sachs, increased their positions.
• Analyst sentiment is broadly positive: IHG has a “Moderate Buy” consensus rating and an average price target of $174.50, compared with a share price of $162.32 at the article’s publication.

Royal Bank of Canada lowered its stake in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 454,016 shares of the company's stock after selling 11,145 shares during the quarter. Royal Bank of Canada owned 0.30% of Intercontinental Hotels Group worth $60,594,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IHG. CCLA Investment Management purchased a new position in shares of Intercontinental Hotels Group in the 4th quarter worth $114,306,000. Morgan Stanley increased its position in Intercontinental Hotels Group by 3.9% during the fourth quarter. Morgan Stanley now owns 764,049 shares of the company's stock valued at $107,601,000 after acquiring an additional 28,526 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Intercontinental Hotels Group by 1.3% in the fourth 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 during the period. Bank of America Corp DE lifted its holdings in Intercontinental Hotels Group by 0.8% in the third quarter. Bank of America Corp DE now owns 501,692 shares of the company's stock valued at $60,835,000 after acquiring an additional 4,080 shares during the period. Finally, Natixis Advisors LLC boosted its position in Intercontinental Hotels Group by 3.9% in the fourth quarter. Natixis Advisors LLC now owns 465,747 shares of the company's stock worth $65,591,000 after purchasing an additional 17,503 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IHG shares. Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Zacks Research downgraded shares of Intercontinental Hotels Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Jefferies Financial Group boosted their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, Sanford C. Bernstein upped their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a "market perform" rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $174.50.

Intercontinental Hotels Group Stock Performance

Shares of IHG opened at $162.32 on Friday. The business has a 50-day simple moving average of $163.52 and a two-hundred day simple moving average of $148.40. Intercontinental Hotels Group has a 52 week low of $113.32 and a 52 week high of $175.89.

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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