Insurance Australia Group (OTCMKTS:IAUGY) Sets New 12-Month High – Here’s Why

Insurance Australia Group Limited (OTCMKTS:IAUGY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $30.71 and last traded at $30.71, with a volume of 497 shares trading hands. The stock had previously closed at $28.6250.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Insurance Australia Group to a “hold” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Insurance Australia Group presently has an average rating of “Hold”.

Insurance Australia Group Trading Up 7.3%

The company has a market cap of $14.36 billion and a PE ratio of 10.43. The stock has a 50 day moving average price of $27.06 and a 200 day moving average price of $26.04.

About Insurance Australia Group

Insurance Australia Group (OTCMKTS:IAUGY) is a leading general insurance underwriter headquartered in Sydney, Australia. The company provides a broad range of personal and commercial insurance products, including home, motor, travel, business and liability coverage. IAG serves individual policyholders, small to mid-sized enterprises and large corporate clients through a diversified distribution network of brokers, direct sales, affinity partnerships and digital channels.

Formed in 2000 through the merger of several Australian and New Zealand insurers, IAG has since grown to become the largest general insurer in its home markets.