JPMorgan Chase & Co. Purchases 73,361 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

JPMorgan Chase & Co. raised its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 29.7% during the third quarter, HoldingsChannel.com reports. The fund owned 320,286 shares of the company’s stock after buying an additional 73,361 shares during the quarter. JPMorgan Chase & Co.’s holdings in InterContinental Hotels Group were worth $35,388,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of InterContinental Hotels Group by 5.8% in the 3rd 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. World Investment Advisors LLC purchased a new position in InterContinental Hotels Group during the 3rd quarter worth $86,000. Bank of Montreal Can bought a new position in shares of InterContinental Hotels Group during the second quarter valued at about $3,892,000. Mediolanum International Funds Ltd purchased a new position in InterContinental Hotels Group during the third quarter worth about $1,699,000. Finally, Crossmark Global Holdings Inc. increased its stake in InterContinental Hotels Group by 86.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 32,392 shares of the company’s stock valued at $3,579,000 after buying an additional 15,031 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

Shares of NYSE:IHG opened at $122.37 on Tuesday. The firm has a market capitalization of $19.40 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.32. The firm has a fifty day moving average of $123.49 and a 200 day moving average of $111.29. InterContinental Hotels Group PLC has a 52-week low of $90.62 and a 52-week high of $131.68.

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.