Insurance Australia Group Limited (OTCMKTS:IAUGY – Get Free Report) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 1,053 shares, a growth of 35,000.0% from the May 31st total of 3 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,763 shares, the short-interest ratio is presently 0.2 days.
Insurance Australia Group Stock Up 0.5%
Shares of IAUGY traded up $0.13 on Thursday, hitting $28.38. 237 shares of the stock traded hands, compared to its average volume of 1,163. Insurance Australia Group has a 1 year low of $21.58 and a 1 year high of $30.71. The stock’s 50 day moving average is $27.31 and its two-hundred day moving average is $26.15. The firm has a market capitalization of $13.27 billion and a P/E ratio of 10.43.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Insurance Australia Group to a “buy” rating in a research report on Wednesday. Zacks Research upgraded Insurance Australia Group to a “hold” rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.
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.
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