Capital Wealth Planning LLC Decreases Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Capital Wealth Planning LLC cut its holdings in InterContinental Hotels Group PLC (NYSE:IHG) by 30.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,440 shares of the company’s stock after selling 7,592 shares during the quarter. Capital Wealth Planning LLC’s holdings in InterContinental Hotels Group were worth $2,179,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Richardson Financial Services Inc. acquired a new position in InterContinental Hotels Group during the fourth quarter worth $25,000. Venturi Wealth Management LLC acquired a new position in InterContinental Hotels Group during the fourth quarter worth $72,000. R Squared Ltd acquired a new position in InterContinental Hotels Group during the fourth quarter worth $89,000. Assetmark Inc. raised its holdings in InterContinental Hotels Group by 130.9% during the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after purchasing an additional 436 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its holdings in InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock worth $111,000 after purchasing an additional 1,001 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on InterContinental Hotels Group in a report on Monday, February 24th. They set a “sell” rating for the company. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, InterContinental Hotels Group presently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 0.1 %

NYSE IHG opened at $126.89 on Friday. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32. The business has a fifty day moving average of $128.68 and a 200-day moving average of $118.51.

About InterContinental Hotels Group

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.