Intercontinental Hotels Group $IHG Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its holdings in Intercontinental Hotels Group (NYSE:IHG) by 6.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 414,953 shares of the company’s stock after selling 27,852 shares during the quarter. Lazard Asset Management LLC owned about 0.28% of Intercontinental Hotels Group worth $55,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IHG. CCLA Investment Management acquired a new position in Intercontinental Hotels Group in the fourth quarter valued at approximately $114,306,000. Morgan Stanley raised its holdings in Intercontinental Hotels Group by 3.9% during the fourth quarter. Morgan Stanley now owns 764,049 shares of the company’s stock worth $107,601,000 after purchasing an additional 28,526 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Intercontinental Hotels Group by 1.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock worth $100,006,000 after buying an additional 9,235 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Intercontinental Hotels Group by 0.8% in the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock valued at $60,835,000 after buying an additional 4,080 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Intercontinental Hotels Group by 3.9% in the 4th quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock valued at $65,591,000 after buying an additional 17,503 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Intercontinental Hotels Group Stock Up 2.3%

Shares of Intercontinental Hotels Group stock opened at $159.76 on Tuesday. The firm’s fifty day simple moving average is $162.79 and its 200-day simple moving average is $147.80. Intercontinental Hotels Group has a 12 month low of $113.32 and a 12 month high of $175.89.

Intercontinental Hotels Group 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.