Insurance Australia Group (OTCMKTS:IAUGY) Stock Price Up 12.2% – Here’s What Happened

Insurance Australia Group Limited (OTCMKTS:IAUGY)’s stock price rose 12.2% during trading on Friday . The company traded as high as $30.56 and last traded at $30.56. Approximately 496 shares changed hands during trading, a decline of 62% from the average daily volume of 1,290 shares. The stock had previously closed at $27.2250.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Insurance Australia Group to a “hold” rating in a 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 an average rating of “Hold”.

Insurance Australia Group Trading Up 8.4%

The firm’s 50 day moving average is $26.64 and its two-hundred day moving average is $25.92. The firm has a market cap of $14.29 billion and a P/E ratio of 10.43.

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.