Ace Limited's Strong Quarters Continue To Generate Success

Piper Jaffray has published a research report on ACE Limited ACE and believes the company is well-balanced financially as its quarters continue to generate success. In the report, Piper Jaffray writes "ACE Limited reported operating EPS of $2.05 for 4Q10, topping both PJC's estimate of $1.75 and consensus of $1.84, driven by higher premiums earned and net investment income. Meanwhile, underwriting performed in line, resulting in a combined ratio of 90.3%. Net premiums written increased 3.5% year over year to $3.4B, in line with expectations. Net-net, the company generated another quality quarter, driven by sound underwriting and top-line growth. Management also issued 2011 operating guidance of $6.10-$6.50 per share, excluding potential prior period development. We reiterate our Overweight rating on the shares." Piper Jaffray maintains its Overweight rating and $76 price target. Ace Limited closed yesterday at $62.50.