QBE Insurance Group (OTCMKTS:QBIEY) Shares Up 0.6% – Here’s Why

Shares of QBE Insurance Group Limited – Sponsored ADR (OTCMKTS:QBIEY) shot up 0.6% during trading on Friday . The company traded as high as $17.5550 and last traded at $17.31. 42,832 shares traded hands during trading, a decline of 19% from the average session volume of 53,171 shares. The stock had previously closed at $17.20.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of QBE Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, QBE Insurance Group currently has an average rating of “Hold”.

QBE Insurance Group Price Performance

The firm has a 50 day moving average of $17.18 and a two-hundred day moving average of $15.90.

About QBE Insurance Group

QBE Insurance Group Ltd is an Australian-based multinational insurer that provides a broad range of general insurance and reinsurance products. Headquartered in Sydney, the company operates through two core divisions—General Insurance and Reinsurance—serving retail, commercial and specialty customers across diverse industries. QBE’s offerings encompass property and casualty coverage as well as risk management solutions designed to meet the needs of individuals, small-to-medium enterprises and large corporations.

Founded in 1886 as North Queensland Insurance Co, the business adopted the QBE name in 1973 following a series of mergers with Bankers and Traders Insurance Co and Equitable Fire & General Insurance Co Over more than a century of operations, the firm has expanded its footprint to more than 27 countries, with significant market presence in Australia, North America, Europe, Asia and Latin America.