Peter Harmer Sells 120,000 Shares of Insurance Australia Group Ltd (IAG) Stock

Insurance Australia Group Ltd (ASX:IAG) insider Peter Harmer sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of A$7.72 ($5.48), for a total transaction of A$926,400.00 ($657,021.28).

IAG opened at A$7.85 ($5.56) on Friday. The company has a debt-to-equity ratio of 30.16, a quick ratio of 0.26 and a current ratio of 0.55. Insurance Australia Group Ltd has a fifty-two week low of A$5.82 ($4.13) and a fifty-two week high of A$8.25 ($5.85). The stock has a market cap of $17.90 billion and a P/E ratio of 21.38.

The company also recently declared a Interim dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 20th will be given a dividend of $0.12 per share. This represents a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, February 12th. Insurance Australia Group’s payout ratio is currently 87.19%.

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About Insurance Australia Group

Insurance Australia Group Limited underwrites general insurance products. The company operates through Australia, New Zealand, and Corporate and Other segments. It offers consumer insurance products, such as motor vehicle, home and contents, lifestyle and leisure, and compulsory third party, as well as travel insurance, life insurance, and income protection products; and business insurance products, including business package, farm and crop, commercial property, construction and engineering, commercial and fleet motor, marine, workers' compensation, professional indemnity, directors' and officers', and public and products liability.

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