Suncorp Group (OTCMKTS:SNMCY) Shares Gap Down – What’s Next?

Suncorp Group Limited (OTCMKTS:SNMCY) gapped down before the market opened on Thursday . The stock had previously closed at $13.81, but opened at $13.11. Suncorp Group shares last traded at $13.11, with a volume of 205 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Suncorp Group from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Suncorp Group Stock Up 6.5%

The firm’s 50 day moving average is $13.60 and its 200-day moving average is $12.56.

Suncorp Group Company Profile

Suncorp Group Limited is an Australia-based insurance company headquartered in Brisbane, Queensland. The group provides general insurance products and services to individuals, businesses and government-related customers in Australia and New Zealand.

Its Australian operations offer products including home, motor, commercial, workers’ compensation and compulsory third-party insurance. Suncorp markets insurance through brands such as AAMI, GIO, Apia, Shannons and Suncorp Insurance. In New Zealand, the group operates through brands including Vero and AA Insurance, providing personal and commercial general insurance products.

Suncorp was formed in 1996 through the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation.