QBE Insurance Group (OTCMKTS:QBIEY) Sets New 1-Year High – Should You Buy?

QBE Insurance Group Limited – Sponsored ADR (OTCMKTS:QBIEY) reached a new 52-week high on Monday. The stock traded as high as $18.40 and last traded at $18.40, with a volume of 1,056 shares trading hands. The stock had previously closed at $17.95.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QBIEY. Jefferies Financial Group downgraded QBE Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research upgraded shares of QBE Insurance Group to a “hold” rating in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

QBE Insurance Group Stock Performance

The stock has a 50 day simple moving average of $16.40 and a 200-day simple moving average of $16.60.

QBE Insurance Group Company Profile

QBE Insurance Group Limited is an Australia-based international insurance and reinsurance company. The group provides commercial, personal and specialty insurance products, as well as reinsurance, to businesses, government entities and individuals. Its offerings include property, liability, workers’ compensation, motor, marine, energy, agricultural and professional insurance, along with risk-management and claims services.

QBE traces its origins to the North Queensland Insurance Company, established in Townsville, Australia, in 1886.