April proved to be a shaky month for the S&P/ASX 200 Index (ASX: XJO). Over the month just gone, the ASX 200 got pretty close to its all-time high, only to choke and end the month in the red by 0.86%. This, understandably, sparked some volatility amongst some of the ASX 200"s biggest players. So today, let's check out what happened to the Insurance Australia Group Ltd (ASX: IAG) share price over April.
IAG is one of the largest insurance businesses on the ASX. It is the company behind the popular NRMA Insurance brand.
April was actually a decent month for the IAG share price, with the company outperforming the broader market. IAG shares started last month at a price of $4.38 but ended up higher at $4.54. That's a modest gain of 3.65%. But that's a lot better than what the ASX 200 gave investors, so no doubt IAG shareholders would be fairly pleased with that performance.
IAG is also outperforming the market over 2022 thus far as well. Year to date, the ASX 200 is still in the red by 3.16% on today's numbers. But IAG shares have managed to stay in the green, rising by 0.67% since the start of the year. As it currently stands today, IAG is trading at $4.50 a share, up 0.67% for the day thus far.
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Is the IAG share price a buy or a sell today?
So now we have an understanding of how IAG shares have fared recently, many investors might be wondering if this company is worth a buy today.
Well, as my Fool colleague Zach covered around a month ago, investment bank JPMorgan is one ASX broker who reckons IAG shares could be in the buy zone. JPMorgan rated IAG shares as a buy, with a 12-month share price target of $5.50. That would result in a significant 22.2% gain from today's pricing if played out.
No doubt investors will be hoping that turns out to be the case.
At the current IAG share price, this ASX 200 insurance share has a market capitalisation of $11.07 billion, with a dividend yield of 2.96%.
