) has been on an uptrend since the onset of the fourth quarter,
reflecting investors' enthusiasm about its developments so far.
Share price escalated 8.3% from Oct 1, 2013 to close at $101.79
Among others, ACE announced the launch of ACE Global Export
Protection in Continental Europe, including Central and Eastern
Europe, in a bid to further widen its product portfolio.
This new product from ACE is likely to support the casualty needs
of middle-market businesses. The timing for the launch seems
perfect given that several European mid-sized companies are now
expanding in emerging economies.
ACE's Global Export Protection proposition will provide
customized export liability coverage solutions. However, the
coverage will be provided only to those businesses who generate
less than or equal to €1 billion of total revenues. Few other
larger companies will also be provided coverage subject to
Earlier ACE expanded its offering to the offshore oil and gas
sector by launching new insurance solution for suppliers and
These new product launches are expected to drive top line growth,
which continues to surpass the Zacks Consensus Estimate, besides
strengthening ACE's product suite.
With respect to earnings performance, ACE Limited delivered
positive earnings surprises in the last 4 quarter with an average
beat of 13.6%.
Recently, the board of Directors of ACE Limited announced its
intention to boost its dividend. The board of directors will
propose a 24% increase in quarterly dividend. Moreover, the board
of ACE Limited also approved a buyback program, authorizing the
company to repurchase $2 billion worth of shares through Dec 31,
2014. ACE Limited eyes repurchase of $1.5 billion worth of shares
These positives led this Zacks Rank #2 (Buy) stock to witness a
rising trend in its estimates. The Zacks Consensus Estimate moved
north by 4.7% to $8.90 per share over the last 60 days, as most
of the estimates were revised upward. For 2014, the same soared
1.7% to $8.34 per share as most of the estimates were revised
higher over the same time frame.
Some other stocks worth considering in the property and casualty
insurance industry include
Hallmark Financial Services Inc.
Cincinnati Financial Corp.
). All these stocks sport a Zacks Rank #1 (Strong Buy).
ACE LIMITED (ACE): Free Stock Analysis Report
CINCINNATI FINL (CINF): Free Stock Analysis
HALLMARK FINL (HALL): Free Stock Analysis
ALLEGHANY CORP (Y): Free Stock Analysis
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