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Wednesday, December 21, 2011

ACE Limited (ACE) insurance shares forecast 2012

ACE Limited (ACE) insurance shares forecast 2012 ; ACE Limited (ACE) provides insurance and reinsurance products to clients in more than 170 countries.

Of the 25 analysts covering the stock, 80% recommend a buy and 12% rate a hold. The stock's average 12-month price target is $77.02, or 16.2% higher than the current price, according to a Bloomberg consensus.

For the third quarter of 2011, ACE reported total revenue of $4.29 billion, up 10.5% from $3.88 billion in the same quarter prior year. Net premium earned during the quarter grew 31.2% to $4.4 billion, vs. $3.4 billion in the same quarter last year. Operating income was $759 million, up 10% from $688 million in the previous year's quarter. Net investment income grew 9% to $564 million from the same quarter preceding year.

In its earning guidance for full year 2011, ACE estimates operating income after tax between $6.55 and $6.75 per share. The company's board announced it would recommend a 33% increase in quarterly dividend to 47 cents per share from 35 cents per share.

Recently, ACE announced the rollout of Ace Dental Care Plan in Thailand, Singapore, Malaysia and Indonesia, providing dental insurance to more than 700,000 active policy holders.

The company recently acquired Penn Millers Holding Corporation, a subsidiary of PMHC in an all-cash transaction of approximately $107 million. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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