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Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying - TL;DR CNBC

Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying

Publishing timestamp: 2024-05-15 17:45:23


Summary

Berkshire Hathaway has secretly purchased nearly 26 million shares of Chubb for a stake worth $6.7 billion, making it their ninth biggest holding. Shares of Chubb jumped nearly 7% after the news was revealed. Berkshire has a large footprint in the insurance industry and has recently exited positions in other insurance companies. This secret purchase was kept confidential for three quarters straight.


Sentiment: POSITIVE

Tickers: VZACVXGLMKLBRK.ACB

Keywords: investment strategyverizon communications incglobe life incwarren buffettinsurance industrybreaking news: marketsbusiness newsmarketsmarkel corpbreaking news: investingstock marketswall streetbreaking news: businesschevron corpchubb ltdberkshire hathaway inc

Source: https://www.cnbc.com/2024/05/15/warren-buffetts-berkshire-hathaway-reveals-insurer-chubb-as-confidential-stock-its-been-buying.html


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