ACE Receives Consensus Recommendation of “Buy” from Analysts (NYSE:ACE)
Shares of ACE (NYSE:ACE) have earned a consensus rating of “Buy” from the eighteen analysts that are currently covering the stock, ARN reports. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $108.56.
In other ACE news, CEO Evan Greenberg sold 94,096 shares of the stock on the open market in a transaction dated Friday, January 31st. The stock was sold at an average price of $94.02, for a total transaction of $8,846,905.92. Following the completion of the sale, the chief executive officer now directly owns 993,979 shares in the company, valued at approximately $93,453,906. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital cut their price target on shares of ACE from $110.00 to $109.00 in a research note to investors on Thursday, January 30th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of ACE in a research note to investors on Wednesday, January 29th. They now have a $113.00 price target on the stock. Finally, analysts at Evercore Partners downgraded shares of ACE from an “overweight” rating to an “equal weight” rating in a research note to investors on Friday, December 13th.
ACE (NYSE:ACE) traded up 0.58% on Thursday, hitting $93.79. The stock had a trading volume of 163,964 shares. ACE has a 1-year low of $84.41 and a 1-year high of $104.07. The stock has a 50-day moving average of $97.97 and a 200-day moving average of $95.37. The company has a market cap of $31.869 billion and a price-to-earnings ratio of 8.54.
ACE (NYSE:ACE) last announced its earnings results on Monday, January 27th. The company reported $2.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.01 by $0.38. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Analysts expect that ACE will post $8.66 EPS for the current fiscal year.
ACE Ltd (NYSE:ACE) is a holding company of the ACE Group of Companies.
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