QBE Insurance Group (OTCMKTS:QBIEY) Shares Gap Down - Should You Sell?

Key Points

• Shares of QBE Insurance Group gapped down from $13.92 to $12.95 upon market opening, last trading at $12.76 with a volume of 2,700 shares.
• The company announced a dividend yield of 417.0%, yet reports a negative payout ratio of -123.00%.
• QBE Insurance Group has a market capitalization of $19.20 billion and a price-to-earnings ratio of -41.16.

Shares of QBE Insurance Group Limited - Sponsored ADR (OTCMKTS:QBIEY - ) gapped down before the market opened on Friday . The stock had previously closed at $13.92, but opened at $12.95. QBE Insurance Group shares last traded at $12.76, with a volume of 2,700 shares traded.

QBE Insurance Group Stock Performance

The business has a fifty day simple moving average of $13.80 and a 200-day simple moving average of $14.26. The firm has a market cap of $19.20 billion and a price-to-earnings ratio of -41.16.

QBE Insurance Group Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, October 3rd. Shareholders of record on Thursday, August 21st were issued a $0.0505 dividend. This represents a yield of 417.0%. The ex-dividend date of this dividend was Wednesday, August 20th. QBE Insurance Group's dividend payout ratio is presently -123.00%.

About QBE Insurance Group

QBE Insurance Group Limited engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally. It offers range of commercial, personal, and specialty products, such as commercial and domestic property, agriculture, public/product liability, motor and motor casualty, professional indemnity, workers' compensation, accident, health, financial and credit, and other insurance products, as well as marine, energy and aviation insurance products, and risk management solutions.

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