Insurance Australia Group (OTCMKTS:IAUGY) Shares Gap Up – Still a Buy?

Insurance Australia Group Limited (OTCMKTS:IAUGY) gapped up prior to trading on Thursday . The stock had previously closed at $25.85, but opened at $28.6250. Insurance Australia Group shares last traded at $28.6250, with a volume of 691 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Insurance Australia Group to a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Insurance Australia Group currently has a consensus rating of “Hold”.

Insurance Australia Group Price Performance

The firm has a market capitalization of $13.38 billion and a PE ratio of 10.43. The company has a 50-day moving average price of $26.91 and a 200 day moving average price of $26.00.

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.