ACE Limited Reaches New 52-Week High After Dividend Announcement (ACE)
ACE Limited (NYSE:ACE) shares hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company, AnalystRatingsNetwork reports. The company traded as high as $104.10 and last traded at $104.07, with a volume of 580,856 shares changing hands. The stock had previously closed at $102.85.
The newly announced dividend is scheduled for Wednesday, August 13th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, July 21st.
A number of research firms have recently commented on ACE. Analysts at Raymond James reiterated an “outperform” rating on shares of ACE Limited in a research note on Monday, May 5th. They now have a $105.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated a “positive” rating on shares of ACE Limited in a research note on Thursday, May 1st. Finally, analysts at JMP Securities raised their price target on shares of ACE Limited from $110.00 to $115.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $112.53.
The stock’s 50-day moving average is $102.3 and its 200-day moving average is $99.38. The company has a market cap of $35.176 billion and a price-to-earnings ratio of 9.99.
ACE Limited (NYSE:ACE) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.15 by $0.12. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts expect that ACE Limited will post $8.87 EPS for the current fiscal year.
ACE Ltd (NYSE:ACE) is a holding company.
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