NEW YORK ( TheStreet) -- ACE (NYSE: ACE) hit a new 52-week high Friday as it is currently trading at $69.94, above its previous 52-week high of $69.83 with 855,818 shares traded as of 10:30 a.m. ET. Average volume has been 2.7 million shares over the past 30 days.

ACE has a market cap of $22.3 billion and is part of the financial sector and insurance industry. Shares are up 5.9% 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 insureds worldwide. The company operates in four segments: Insurance North American, Insurance Overseas General, Global Reinsurance, and Life. The company has a P/E ratio of 8.9, equal to the average insurance industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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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, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full ACE Ratings Report.

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