Insurance Australia Group (OTCMKTS:IAUGY) Shares Gap Up – Should You Buy?

Shares of Insurance Australia Group Limited (OTCMKTS:IAUGY) gapped up before the market opened on Thursday . The stock had previously closed at $25.90, but opened at $27.5150. Insurance Australia Group shares last traded at $27.5150, with a volume of 299 shares trading hands.

Wall Street Analyst Weigh In

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

Insurance Australia Group Stock Performance

The firm’s fifty day simple moving average is $28.57 and its two-hundred day simple moving average is $27.14.

Insurance Australia Group Company Profile

Insurance Australia Group Limited (OTCMKTS:IAUGY) is a general insurance company operating primarily in Australia and New Zealand. The company provides insurance products for individuals, businesses and organizations, with coverage spanning motor vehicles, homes, property, travel, liability and other commercial risks.

IAG sells insurance through a portfolio of brands and distribution channels, including direct-to-customer operations, brokers, financial institutions and strategic partners.