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What happened to the IAG (ASX: IAG) stock price last month?

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NS Insurance Australia Group Ltd (ASX: IAG) Stock prices fell in November, hitting shareholders again.

The company has been relatively quiet for a month, with its last price-sensitive release in early November.

The stock price of a major insurance company fell by about 8% this month. However, on Friday, the company regained some of these losses and posted a profit of 1.59%. Similar to Friday’s closing price, IAG’s share price is $ 4.47.

What is the latest information on IAG?

Since then, the company has not made any new announcements. Transaction updates, Investors continue to weigh on IAG stocks.

The company has revealed that it expects a significant increase in net natural disaster billing costs in FY2010. The violent storms and hail activity that occurred in South Australia and Victoria in October were attributed to increased costs.

In total, net natural disaster billing costs for this fiscal year are projected to be approximately $ 1.045 billion. That’s a lot from the company’s previous estimate of $ 765 million. It is worth noting that this includes $ 510 million for dangerous events for the rest of the fiscal year.

Previous seasonally unexpected claims have forced the IAG to downgrade its 2010 insurance margin guidance.

Therefore, the company forecasts an insurance margin guidance range of 10% to 12%. Previously, insurance margin levels ranged from 13.5% to 15.5%. Inflationary pressure on the billing costs of the company’s automotive and housing portfolio was partially offset by lower vehicle billing.

Undoubtedly, the update of concern affected IAG shares, dropping 7% on the release date alone. And since November 9, the stock has been almost in the red and has been losing money for days in a row.

The IAG has been trading at lows for nearly a few years while trying to overcome tight trading conditions.

IAG Stock Price Summary

Over the last 12 months, IAG’s share price has fallen by about 15%, down 5% year-to-date. The company’s stock has fallen 60% since July 2019, COVID-19 (new coronavirus infection) Pandemic.

Based on today’s price, IAG Market first It is about $ 10.84 billion and has about 2.47 billion shares issued.

What happened to the IAG (ASX: IAG) stock price last month?

Source link What happened to the IAG (ASX: IAG) stock price last month?

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