Suncorp Group (OTCMKTS:SNMCY) Shares Down 6.2% – Time to Sell?

Shares of Suncorp Group Limited (OTCMKTS:SNMCY) were down 6.2% on Friday. The company traded as low as $12.5401 and last traded at $12.5401. 114 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 94,079 shares. The stock had previously closed at $13.37.

Analysts Set New Price Targets

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

Suncorp Group Trading Down 1.1%

The business’s fifty day moving average is $13.71 and its 200-day moving average is $12.79.

About Suncorp Group

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.