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

Shares of Insurance Australia Group Limited (OTCMKTS:IAUGY) hit a new 52-week high during trading on Saturday . The stock traded as high as $30.56 and last traded at $30.56, with a volume of 851 shares traded. The stock had previously closed at $28.1810.

Analyst Upgrades and Downgrades

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, According to MarketBeat.com, Insurance Australia Group presently has an average rating of “Hold”.

Insurance Australia Group Trading Up 8.4%

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

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.