Crossmark Global Holdings Inc. Sells 15,464 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Crossmark Global Holdings Inc. trimmed its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 47.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,928 shares of the company’s stock after selling 15,464 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in InterContinental Hotels Group were worth $2,115,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC grew its position in InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock valued at $705,758,000 after buying an additional 351,723 shares during the period. JPMorgan Chase & Co. grew its position in InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after buying an additional 73,361 shares during the period. World Investment Advisors LLC bought a new stake in InterContinental Hotels Group during the third quarter valued at approximately $86,000. Envestnet Asset Management Inc. grew its position in InterContinental Hotels Group by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock valued at $6,179,000 after buying an additional 3,431 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of InterContinental Hotels Group in the second quarter worth approximately $3,892,000. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Performance

Shares of NYSE:IHG opened at $132.72 on Friday. The firm has a fifty day moving average price of $125.74 and a 200 day moving average price of $113.04. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $132.89. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.59 and a beta of 1.32.

Analysts Set New Price Targets

A number of research firms have weighed in on IHG. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, InterContinental Hotels Group currently has an average rating of “Hold”.

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.