In a report released on August 5, Kieran Chidgey from Jarden maintained a Buy rating on Insurance Australia Group Limited (IAUGF – Research Report), with a price target of AUD5.40. The company’s shares closed last Thursday at $3.30.
According to TipRanks, Chidgey is an analyst with an average return of -2.2% and a 33.33% success rate. Chidgey covers the Financial sector, focusing on stocks such as ASX Limited, Insignia Financial Ltd, and Pendal Group Limited.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Insurance Australia Group Limited with a $3.47 average price target, a 5.15% upside from current levels. In a report released on July 25, Citigroup also maintained a Buy rating on the stock with a AUD5.10 price target.
IAUGF market cap is currently $7.84B and has a P/E ratio of 51.62.
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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.
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