NEW YORK ( TheStreet) -- ACE (NYSE: ACE) hit a new 52-week high Friday as it traded at $64.48 compared with its previous 52-Week high of $64.44. ACE is changing hands at $64.47 with 781,488 shares traded as of 11:05 a.m. ET. Average volume has been 1.8 million shares over the past 30 days. ACE has a market cap of $21.3 billion and is part of the financial sector and insurance industry. Shares are up 1% year to date as of the close of trading on Thursday.

ACE Limited, through its subsidiaries, provides a range of insurance and reinsurance products to commercial and individual customers worldwide. The company operates through four segments: Insurance North American, Insurance Overseas General, Global Reinsurance, and Life. The company has a P/E ratio of eight, above the average insurance industry P/E ratio of 6.9 and below the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates ACE as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, attractive valuation levels and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full ACE Ratings Report.

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