Analysts at Zacks Investment Research upgraded shares of Zurich Insurance Group Ltd (NASDAQ: ZURVY) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the shares. The one-year price target of $2012.00 is above the opening price of $25.77, causing a number of other analysts to issue statements on the stock recently. Looking back over the last 52 weeks, Zurich Insurance Group Ltd stock has a high of $27.08. Typically, after analysts issue an upgrade report on a stock, they will later issue other updates, such as a price target change.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Zurich Insurance Group Ltd (NASDAQ: ZURVY) shares last traded at $25.93, which is a jump of $0.20 from the previous closing price. Opening at $25.77, they ranged from $25.75 and $26.06 throughout the day.
Zurich Insurance Group Ltd (NASDAQ: ZURVY) now has a market cap of 38.72B.
32,737 shares crossed the trading desk yesterday, lower than the average, out of a total float 1,089,254,000. Momentum traders often use upticks in trading volume to identify substantial volume growth or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
While increased trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Zurich Insurance Group Ltd (NASDAQ: ZURVY) have ranged from $20.29 – 27.08, and the stock now has a 50-day MA of $25.52 and 200-day MA of $23.68. Today’s last price is 0.04% below the 52 week high of $27.08.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.