In a report released today, Andrei Stadnik from Morgan Stanley maintained a Hold rating on Insurance Australia Group Limited (IAUGF – Research Report), with a price target of A$5.45. The company’s shares closed yesterday at $4.20.
Stadnik covers the Financial sector, focusing on stocks such as Macquarie Group Limited, ASX Limited, and QBE Insurance Group Limited. According to TipRanks, Stadnik has an average return of 7.6% and a 58.86% success rate on recommended stocks.
Currently, the analyst consensus on Insurance Australia Group Limited is a Moderate Buy with an average price target of $4.15, representing a -1.19% downside. In a report released on May 2, UBS also maintained a Hold rating on the stock with a A$6.50 price target.
The company has a one-year high of $4.41 and a one-year low of $3.16. Currently, Insurance Australia Group Limited has an average volume of 1,620.
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Insurance Australia Group Limited (IAUGF) Company Description:
Insurance Australia Group Ltd. engages in underwriting of general insurance and related corporate services. It operates through the following geographical divisions: Australia, New Zealand, and Corporate and Other. The Australia division comprises the consumer and business segments. The New Zealand division provides general insurance products underwritten in New Zealand. The Corporate and Other division includes the other activities, including corporate services, capital management activity, shareholders’ funds investment activities, inward reinsurance from associates, and investment in associates in Malaysia and India. The company was founded in 1925 and is headquartered Sydney, Australia.
