Insurance Australia Group (OTCMKTS:IAUGY) Sets New 1-Year High – Should You Buy?

Shares of Insurance Australia Group Limited (OTCMKTS:IAUGY) reached a new 52-week high on Monday . The stock traded as high as $30.71 and last traded at $30.71, with a volume of 497 shares traded. The stock had previously closed at $28.6250.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Insurance Australia Group to a “hold” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Insurance Australia Group Trading Up 7.3%

The stock has a fifty day moving average of $27.06 and a two-hundred day moving average of $26.04. The company has a market capitalization of $14.36 billion and a PE 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.