Insurance Australia Group Limited (OTCMKTS:IAUGY) Short Interest Update

Insurance Australia Group Limited (OTCMKTS:IAUGY) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 110 shares, a drop of 88.7% from the June 30th total of 974 shares. Based on an average trading volume of 216 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

IAUGY has been the subject of a number of research reports. Zacks Research raised Insurance Australia Group to a “hold” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group upgraded Insurance Australia Group to a “buy” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Insurance Australia Group Trading Down 2.8%

Shares of Insurance Australia Group stock opened at $28.35 on Friday. The stock has a market cap of $13.26 billion and a price-to-earnings ratio of 10.43. The company has a fifty day moving average price of $28.58 and a 200 day moving average price of $26.57. Insurance Australia Group has a twelve month low of $21.58 and a twelve month high of $30.71.

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.