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An update from Insurance Australia Group Limited ( (AU:IAG) ) is now available.
Insurance Australia Group Limited has reduced its ordinary share capital through the cancellation of 15,090,253 fully paid ordinary shares following completion of an on-market buy-back. The move decreases the number of IAG shares on issue, which can marginally enhance earnings per share and signals continued capital management activity by the insurer.
The group has also recorded the lapse of 129,540 performance rights and 46,320 award rights after the conditions attached to these incentives were not met or became incapable of being satisfied. This adjustment trims IAG’s potential future equity dilution from employee and executive incentive plans, slightly tightening the company’s prospective capital base.
The most recent analyst rating on (AU:IAG) stock is a Buy with a A$8.70 price target. To see the full list of analyst forecasts on Insurance Australia Group Limited stock, see the AU:IAG Stock Forecast page.
More about Insurance Australia Group Limited
Insurance Australia Group Limited is a major general insurance company listed on the ASX, issuing ordinary fully paid shares and equity-based rights to employees and executives. Its capital structure includes ordinary equity as well as performance and award rights that form part of its remuneration and incentive arrangements.
YTD Price Performance: -8.05%
Average Trading Volume: 7,046,535
Technical Sentiment Signal: Hold
Current Market Cap: A$17.05B
See more data about IAG stock on TipRanks’ Stock Analysis page.