ACE Ltd (ACE): Today's Featured Insurance Winner
ACE (ACE) pushed the Insurance industry higher today making it today's featured insurance winner. The industry as a whole closed the day up 0.5%. By the end of trading, ACE rose $1.01 (1.3%) to $76.96 on average volume. Throughout the day, 1.7 million shares of ACE exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in a price between $75.33-$77.03 after having opened the day at $75.38 as compared to the previous trading day's close of $75.95. Other companies within the Insurance industry that increased today were: Kingsway Financial Services (KFS), up 5.7%, Montpelier RE Holdings (MRH), up 5.1%, CoreLogic (CLGX), up 5.1%, and MGIC Investment Corporation (MTG), up 4.7%.
ACE Limited, through its subsidiaries, provides a range of insurance and reinsurance products to insureds worldwide. ACE has a market cap of $25.48 billion and is part of the financial sector. The company has a P/E ratio of 9.5, below the average insurance industry P/E ratio of 16.2 and below the S&P 500 P/E ratio of 17.7. Shares are up 7.3% year to date as of the close of trading on Wednesday. Currently there are 13 analysts that rate ACE a buy, one analyst rates it a sell, and two rate it a hold.
TheStreet Ratings rates ACE as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
- You can view the full ACE Ratings Report.
On the negative front, Affirmative Insurance Holdings (AFFM), down 15.6%, Stewart Information Services (STC), down 5.3%, Radian Group (RDN), down 3.3%, and Assured Guaranty (AGO), down 3.1%, were all losers within the insurance industry with Catalyst Health Solutions (CHSI) being today's insurance industry loser.
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For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the insurance industry could consider KBW Insurance ETF (KIE) while those bearish on the insurance industry could consider Proshares Short Financials (SEF).
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