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

Insurance Australia Group Limited (OTCMKTS:IAUGY) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,053 shares, an increase of 35,000.0% from the May 31st total of 3 shares. Based on an average daily trading volume, of 6,763 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Insurance Australia Group Stock Up 0.5%

Shares of IAUGY stock traded up $0.13 on Thursday, reaching $28.38. 237 shares of the stock were exchanged, compared to its average volume of 1,163. The stock has a market cap of $13.27 billion and a P/E ratio of 10.43. The firm has a 50 day moving average of $27.31 and a two-hundred day moving average of $26.15. Insurance Australia Group has a 1-year low of $21.58 and a 1-year high of $30.71.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IAUGY shares. The Goldman Sachs Group raised shares of Insurance Australia Group to a “buy” rating in a research note on Wednesday. Zacks Research upgraded shares of Insurance Australia Group to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

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.