Short Interest in Insurance Australia Group Limited (OTCMKTS:IAUGY) Declines By 88.7%

Insurance Australia Group Limited (OTCMKTS:IAUGY) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 110 shares, a decrease of 88.7% from the June 30th total of 974 shares. Based on an average trading volume of 216 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IAUGY shares. The Goldman Sachs Group raised shares of Insurance Australia Group to a “buy” rating in a report on Wednesday, June 24th. Zacks Research upgraded Insurance Australia Group to a “hold” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Insurance Australia Group Price Performance

Shares of OTCMKTS:IAUGY opened at $28.35 on Friday. The firm’s 50 day simple moving average is $28.58 and its 200 day simple moving average is $26.57. Insurance Australia Group has a fifty-two week low of $21.58 and a fifty-two week high of $30.71. The company has a market capitalization of $13.26 billion and a price-to-earnings ratio of 10.43.

Insurance Australia Group Company Profile

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.