Insurance Australia Group (OTCMKTS:IAUGY) Stock Price Up 12.2% – Here’s What Happened

Shares of Insurance Australia Group Limited (OTCMKTS:IAUGY) rose 12.2% during mid-day trading on Friday . The company traded as high as $30.56 and last traded at $30.56. Approximately 496 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,290 shares. The stock had previously closed at $27.2250.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Insurance Australia Group to a “hold” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Insurance Australia Group has a consensus rating of “Hold”.

Insurance Australia Group Trading Up 8.4%

The business’s fifty day simple moving average is $26.64 and its 200 day simple moving average is $25.92. The stock has a market cap of $14.29 billion and a P/E ratio of 10.43.

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.