Insurance Australia Group Limited (OTCMKTS:IAUGY) Sees Large Decline in Short Interest

Insurance Australia Group Limited (OTCMKTS:IAUGY) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 3 shares, a drop of 97.4% from the May 14th total of 117 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 646 shares, the short-interest ratio is presently 0.0 days.

Insurance Australia Group Trading Up 3.0%

Shares of OTCMKTS:IAUGY traded up $0.80 during midday trading on Tuesday, hitting $27.23. 615 shares of the stock were exchanged, compared to its average volume of 1,311. The stock has a market cap of $12.73 billion and a P/E ratio of 10.43. Insurance Australia Group has a twelve month low of $21.58 and a twelve month high of $29.28. The company has a 50 day moving average price of $26.54 and a 200-day moving average price of $25.90.

Analysts Set New Price Targets

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

Insurance Australia Group Company Profile

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.