QBE Insurance Group (OTCMKTS:QBIEY) Shares Gap Down – Should You Sell?

QBE Insurance Group Limited – Sponsored ADR (OTCMKTS:QBIEY) gapped down before the market opened on Wednesday. The stock had previously closed at $18.49, but opened at $17.8650. QBE Insurance Group shares last traded at $17.8750, with a volume of 1,936 shares.

Analysts Set New Price Targets

QBIEY has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of QBE Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research upgraded shares of QBE Insurance Group to a “hold” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of “Hold”.

QBE Insurance Group Stock Down 2.4%

The stock has a 50 day moving average of $16.65 and a two-hundred day moving average of $16.03.

About QBE Insurance Group

QBE Insurance Group Limited is an Australia-based international insurance and reinsurance company. The group provides commercial, personal and specialty insurance products, as well as reinsurance, to businesses, government entities and individuals. Its offerings include property, liability, workers’ compensation, motor, marine, energy, agricultural and professional insurance, along with risk-management and claims services.

QBE traces its origins to the North Queensland Insurance Company, established in Townsville, Australia, in 1886.