Insurance Australia Group (OTCMKTS:IAUGY) Shares Gap Up – Should You Buy?

Insurance Australia Group Limited (OTCMKTS:IAUGY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $26.4270, but opened at $28.1810. Insurance Australia Group shares last traded at $28.1810, with a volume of 343 shares.

Wall Street Analyst Weigh In

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

Insurance Australia Group Stock Up 6.6%

The company has a fifty day moving average of $26.54 and a two-hundred day moving average of $25.90. The stock has a market capitalization of $13.18 billion and a price-to-earnings ratio of 10.43.

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.