Insurance Australia Group (OTCMKTS:IAUGY) Shares Gap Up – Time to Buy?

Insurance Australia Group Limited (OTCMKTS:IAUGY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $26.4270, but opened at $28.1810. Insurance Australia Group shares last traded at $28.1810, with a volume of 343 shares changing hands.

Analyst Upgrades and Downgrades

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

Insurance Australia Group Trading Up 8.4%

The company has a market capitalization of $14.29 billion and a PE ratio of 10.43. The firm’s 50-day simple moving average is $26.64 and its 200-day simple moving average is $25.92.

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.