Insurance Australia Group Limited (OTCMKTS:IAUGY) Sees Large Decline in Short Interest

Insurance Australia Group Limited (OTCMKTS:IAUGY) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 3 shares, a decrease of 97.4% from the May 14th total of 117 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 646 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

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

Insurance Australia Group Stock Up 3.0%

Insurance Australia Group stock traded up $0.80 during mid-day trading on Tuesday, hitting $27.23. The company had a trading volume of 615 shares, compared to its average volume of 1,311. The stock has a market cap of $12.73 billion and a price-to-earnings ratio of 10.43. Insurance Australia Group has a 1 year low of $21.58 and a 1 year high of $29.28. The business has a fifty day moving average of $26.54 and a 200 day moving average of $25.90.

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.