Insurance Australia Group (OTCMKTS:IAUGY) Shares Up 11.2% – Still a Buy?

Shares of Insurance Australia Group Limited (OTCMKTS:IAUGY) were up 11.2% during trading on Tuesday . The company traded as high as $29.5050 and last traded at $29.5050. 310 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 958 shares. The stock had previously closed at $26.54.

Analyst Ratings Changes

IAUGY has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded Insurance Australia Group to a “buy” rating in a research note on Wednesday, June 24th. Zacks Research upgraded shares of Insurance Australia Group to a “hold” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Insurance Australia Group Stock Up 11.2%

The stock has a fifty day moving average price of $28.50 and a 200-day moving average price of $27.18.

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.