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

Lazard Asset Management LLC reduced its stake in Intercontinental Hotels Group (NYSE:IHG) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 414,953 shares of the company’s stock after selling 27,852 shares during the quarter. Lazard Asset Management LLC’s holdings in Intercontinental Hotels Group were worth $55,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. raised its stake in shares of Intercontinental Hotels Group by 20.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock worth $62,000 after purchasing an additional 76 shares during the last quarter. Compound Planning Inc. grew its position in Intercontinental Hotels Group by 5.4% in the 1st quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock valued at $226,000 after buying an additional 87 shares during the last quarter. Independent Advisor Alliance increased its stake in Intercontinental Hotels Group by 0.9% in the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock valued at $1,490,000 after buying an additional 91 shares during the period. Cullen Frost Bankers Inc. raised its position in Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after buying an additional 91 shares during the last quarter. Finally, Capital International Investors raised its position in Intercontinental Hotels Group by 2.5% during the 4th quarter. Capital International Investors now owns 3,838 shares of the company’s stock worth $544,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analyst Ratings Changes

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

Intercontinental Hotels Group Trading Up 2.3%

Shares of NYSE IHG opened at $159.76 on Tuesday. Intercontinental Hotels Group has a 52 week low of $113.32 and a 52 week high of $175.89. The firm has a 50-day moving average price of $162.79 and a 200 day moving average price of $147.80.

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.