Company Update: ACE Limited (NYSE:ACE) – ACE Receives All Regulatory Approvals Needed to Close Acquisition of Chubb

[PR Newswire] – ZURICH, Jan. 13, 2016 /PRNewswire/ — ACE Limited (NYSE: ACE) announced that it has received all regulatory approvals needed for closing its acquisition of Chubb, a transaction that will create the world’s … Read more on this. ACE Limited (ACE) , with a current market cap of $36.37B, started the session at $113.26. Looking at today’s market, ACE one day range is $111.58 to $113.73 with the price of the stock fluctuating between $96.00 to $119.86 over the last 52 weeks. ACE shares are currently priced at 11.60x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.05x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $2.68 per share annually in dividends, yielding 2.44%. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $2.27 per share, which would be $0.20 worse than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $9.66 is a $0.13 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.88 Billion. If realized, that would be a 2.11% increase over the year-ago quarter. In terms of ratings, Wells Fargo upgraded ACE from Market Perform to Outperform (Jan 13, 2016). Previously, Goldman upgraded ACE from Neutral to Buy. The average price target for ACE shares is $124.28, which is 9.73% above where the stock opened this morning. See more in (NYSE:ACE) Similar Articles: Stock Update (NYSE:ACE): Ace Group announces US$5.3bn bond to fund Chubb buy Market Update: ACE Limited (NYSE:ACE) – ACE Shareholders Approve Acquisition of Chubb Company Update: ACE Limited (NYSE:ACE) – ACE to Hold its Third Quarter Earnings Conference Call on Wednesday, October 21, 2015