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

QBE Insurance Group Limited – Sponsored ADR (OTCMKTS:QBIEY) shares gapped up prior to trading on Friday. The stock had previously closed at $16.76, but opened at $17.50. QBE Insurance Group shares last traded at $17.50, with a volume of 202 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group downgraded QBE Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Zacks Research upgraded QBE Insurance Group to a “hold” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, QBE Insurance Group has a consensus rating of “Hold”.

QBE Insurance Group Price Performance

The company’s 50-day moving average is $16.36 and its two-hundred day moving average is $16.47.

QBE Insurance Group Company Profile

QBE Insurance Group Limited is an Australia-based international insurance company that provides general insurance and reinsurance products to individuals, businesses, and organizations. Its offerings include commercial property and casualty insurance, workers’ compensation, motor and home insurance, marine coverage, crop insurance, and specialty lines such as professional liability and travel insurance.

QBE serves customers through operations in Australia and New Zealand, North America, the United Kingdom, Europe, and other international markets.