Insurance Australia Group (OTCMKTS:IAUGY) Shares Gap Up – Here’s What Happened

Insurance Australia Group Limited (OTCMKTS:IAUGY)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $28.17, but opened at $29.23. Insurance Australia Group shares last traded at $29.23, with a volume of 263 shares changing hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised Insurance Australia Group to a “buy” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Insurance Australia Group has an average rating of “Moderate Buy”.

Insurance Australia Group Stock Performance

The business’s fifty day simple moving average is $28.39 and its 200 day simple moving average is $27.82.

Insurance Australia Group Company Profile

Insurance Australia Group Limited (OTCMKTS:IAUGY) is a general insurance company headquartered in Australia. It provides insurance products that help individuals, businesses and organizations manage risks associated with property, vehicles, liability and other assets.

In Australia, IAG operates through well-known brands including NRMA Insurance, CGU and WFI. Its offerings include personal insurance products such as motor, home and travel coverage, as well as commercial insurance for small businesses, corporations and specialist industries.