Insurance Australia Group Limited (OTCMKTS:IAUGY) Short Interest Down 97.4% in May

Insurance Australia Group Limited (OTCMKTS:IAUGY) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 3 shares, a drop of 97.4% from the May 14th total of 117 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 646 shares, the short-interest ratio is presently 0.0 days.

Insurance Australia Group Stock Performance

OTCMKTS:IAUGY opened at $27.23 on Wednesday. The stock has a market capitalization of $12.73 billion and a P/E ratio of 10.43. The company has a 50 day moving average price of $26.54 and a 200 day moving average price of $25.90. Insurance Australia Group has a fifty-two week low of $21.58 and a fifty-two week high of $29.28.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Insurance Australia Group to a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Insurance Australia Group currently has an average rating of “Hold”.

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.