Insurance Australia Group (OTCMKTS:IAUGY) Shares Gap Up – Here’s Why

Insurance Australia Group Limited (OTCMKTS:IAUGY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $25.90, but opened at $27.5150. Insurance Australia Group shares last traded at $27.5150, with a volume of 299 shares changing hands.

Wall Street Analysts Forecast Growth

IAUGY has been the subject of several analyst reports. Zacks Research upgraded Insurance Australia Group to a “hold” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group upgraded shares of Insurance Australia Group to a “buy” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Insurance Australia Group currently has an average rating of “Moderate Buy”.

Insurance Australia Group Trading Up 6.2%

The business has a 50-day simple moving average of $28.71 and a 200-day simple moving average of $27.13.

Insurance Australia Group Company Profile

Insurance Australia Group Limited (OTCMKTS:IAUGY) is a general insurance company operating primarily in Australia and New Zealand. The company provides insurance products for individuals, businesses and organizations, with coverage spanning motor vehicles, homes, property, travel, liability and other commercial risks.

IAG sells insurance through a portfolio of brands and distribution channels, including direct-to-customer operations, brokers, financial institutions and strategic partners.