QRG Capital Management Inc. Has $1.99 Million Holdings in Intercontinental Hotels Group $IHG

QRG Capital Management Inc. raised its position in shares of Intercontinental Hotels Group (NYSE:IHG) by 46.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,924 shares of the company’s stock after buying an additional 4,733 shares during the quarter. QRG Capital Management Inc.’s holdings in Intercontinental Hotels Group were worth $1,992,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. raised its holdings in shares of Intercontinental Hotels Group by 178.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock valued at $25,000 after acquiring an additional 116 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Intercontinental Hotels Group by 1,453.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. Fifth Third Bancorp raised its stake in Intercontinental Hotels Group by 111.0% during the 4th quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. Cullen Frost Bankers Inc. raised its stake in Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Intercontinental Hotels Group by 525.6% in the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after purchasing an additional 226 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Stock Up 0.6%

Shares of IHG traded up $1.01 during midday trading on Tuesday, reaching $167.42. 122,511 shares of the stock were exchanged, compared to its average volume of 250,017. Intercontinental Hotels Group has a 12-month low of $113.32 and a 12-month high of $175.89. The firm has a 50 day simple moving average of $158.91 and a 200-day simple moving average of $145.87.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IHG. Jefferies Financial Group lifted their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a report on Friday, June 26th. Sanford C. Bernstein upped their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.50.

About Intercontinental Hotels Group

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.