Suncorp Group (OTCMKTS:SNMCY) Shares Gap Up – Should You Buy?

Suncorp Group Limited (OTCMKTS:SNMCY) gapped up prior to trading on Wednesday. The stock had previously closed at $13.34, but opened at $14.3940. Suncorp Group shares last traded at $14.45, with a volume of 5,704 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Suncorp Group from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Suncorp Group currently has a consensus rating of “Hold”.

Suncorp Group Trading Up 4.3%

The stock has a fifty day simple moving average of $13.70 and a two-hundred day simple moving average of $12.86.

Suncorp Group Company Profile

Suncorp Group Limited is an Australian general insurance company serving customers in Australia and New Zealand. The company provides personal and commercial insurance products, including coverage for homes, motor vehicles, businesses, farms, travel and other property and liability risks.

Suncorp operates through a portfolio of well-known insurance brands, including Suncorp, AAMI, GIO, Apia, Shannons and Vero in Australia, as well as AA Insurance in New Zealand. Its offerings are distributed through direct channels, brokers, financial institutions and other business partners.

The company was formed in 1996 through the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation.