1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Insurance Australia Group Limited
  6. News
  7. Summary
    IAG   AU000000IAG3

INSURANCE AUSTRALIA GROUP LIMITED

(IAG)
  Report
Delayed Australian Stock Exchange  -  02:10 2022-08-08 am EDT
4.560 AUD   -0.65%
08/04MISPLACED, STOLEN, DROPPED, OR DESTROYED : New Zealand's top contents insurance claims
PU
08/03Genworth Mortgage Insurance Australia Posts Lower H1 Profit Amid Investment Loss
MT
08/01INSURANCE AUSTRALIA : Proceeding filed against IAG
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Australian shares end lower after RBA decision; miners, banks drag

11/02/2021 | 01:44am EDT

* RBA keeps rates at record low, drops yield control

* Miners and banks worst performers

* Insurance Australia down 7% after flagging higher costs

Nov 2 (Reuters) - Australian shares fell on Tuesday, dragged down by banking heavyweights and miners, after the central bank abandoned an ultra-low target for bond yields and opened the door for an earlier interest rate hike.

The benchmark S&P/ASX 200 index closed 0.6% lower at 7,324.3, erasing Monday's gains.

The Reserve Bank of Australia left cash rate untouched at its monthly policy meeting, but dropped a commitment to keep yields on the April 2024 government bond at 0.1%, citing improving economic recovery and rising inflation.

The new economic forecasts "are a little more cautious than we had expected but certainly indicate that the board expects that conditions necessary for the first rate hike will be in place during 2023," Westpac's chief economist Bill Evans wrote.

Miners were the biggest laggards on the benchmark index, shedding more than 2% as iron ore prices fell on poor demand outlook.

Index majors BHP Group and Rio Tinto were down between 2% and 2.5%.

Financials fell 1.3% to hit their lowest since Oct. 7, as insurers and the "Big Four" banks all closed lower.

Insurance Australia Group was the worst performer on the sub-index, dropping 7% after it warned of higher costs due to bad weather. That dragged rivals QBE Insurance Group and Suncorp Group Ltd lower too.

Energy and gold stocks fell about 1% each.

Among stocks, real estate firm Goodman Group was a bright spot, climbing as much as 7.6% to hit its highest level in nearly 14 years after it raised its 2022 fiscal year earnings outlook.

Meanwhile, New Zealand's benchmark NZX 50 index fell 0.3% to 12,992.5, with local shares of Westpac Banking Corp being the top losers with a 4.7% drop.

In other markets, Japan's Nikkei was down 0.4%, while S&P 500 E-minis futures were down 0.1%. (Reporting by Yamini C S in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED 0.80% 39.12 Delayed Quote.-6.48%
GOODMAN GROUP -3.36% 20.13 Delayed Quote.-21.40%
INSURANCE AUSTRALIA GROUP LIMITED -0.65% 4.56 Delayed Quote.7.75%
OMX STOCKHOLM 30 INDEX 0.32% 2004.97 Real-time Quote.-17.41%
QBE INSURANCE GROUP LIMITED -1.08% 11.88 Delayed Quote.5.82%
S&P/ASX 200 0.07% 7020.6 Real-time Quote.-5.76%
SUNCORP GROUP LIMITED -4.64% 11.11 Delayed Quote.5.24%
All news about INSURANCE AUSTRALIA GROUP LIMITED
08/04MISPLACED, STOLEN, DROPPED, OR DESTR : New Zealand's top contents insurance claims
PU
08/03Genworth Mortgage Insurance Australia Posts Lower H1 Profit Amid Investment Loss
MT
08/01INSURANCE AUSTRALIA : Proceeding filed against IAG
PU
07/28Liberty Insurance Berhad completed the acquisition of AmGeneral Insurance Berhad from A..
CI
07/25INSURANCE AUSTRALIA : WFI launches podcast series to support regional communities
PU
07/25SUPPORTIVE, REWARDING AND SOCIAL : Hear what our 2022 grads think about the IAG Graduate P..
PU
07/22Australian Shares Tick Down Amid Slowing Private Sector Growth
MT
07/22Australian shares log best week since mid-March on boost from banks
RE
07/22Insurance Australia Group Expects Profit Swing in FY22
MT
07/22NEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
More news
Analyst Recommendations on INSURANCE AUSTRALIA GROUP LIMITED
More recommendations
Financials
Sales 2022 7 892 M 5 440 M 5 440 M
Net income 2022 352 M 243 M 243 M
Net cash 2022 9 899 M 6 824 M 6 824 M
P/E ratio 2022 34,0x
Yield 2022 2,69%
Capitalization 11 254 M 7 758 M 7 758 M
EV / Sales 2022 0,17x
EV / Sales 2023 0,15x
Nbr of Employees 13 650
Free-Float 99,8%
Chart INSURANCE AUSTRALIA GROUP LIMITED
Duration : Period :
Insurance Australia Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INSURANCE AUSTRALIA GROUP LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 4,59 AUD
Average target price 5,01 AUD
Spread / Average Target 9,22%
EPS Revisions
Managers and Directors
Nicholas Barrie Hawkins Chief Executive Officer, Director & MD
Michelle McPherson Chief Financial Officer
Thomas William Pockett Chairman
Neil Morgan Chief Operating Officer
Jonathan B. Nicholson Independent Non-Executive Director