Insurance Australia Group (OTCMKTS:IAUGY) Sets New 52-Week High – Time to Buy?

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

Wall Street Analyst Weigh In

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

Insurance Australia Group Trading Down 5.4%

The company’s 50-day moving average price is $27.26 and its two-hundred day moving average price is $26.12. The company has a market cap of $13.21 billion and a P/E 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.