Insurance Australia Group (OTCMKTS:IAUGY) Hits New 12-Month High – Time to Buy?

Insurance Australia Group Limited (OTCMKTS:IAUGY)’s stock price reached a new 52-week high on Saturday . The company traded as high as $30.56 and last traded at $30.56, with a volume of 851 shares changing hands. The stock had previously closed at $28.1810.

Wall Street Analyst Weigh In

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

Insurance Australia Group Trading Up 8.4%

The company has a market cap of $14.29 billion and a price-to-earnings ratio of 10.43. The firm’s 50-day moving average price is $26.73 and its 200 day moving average price is $25.95.

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.