Buffett's Berkshire reveals over $6B investment in Chubb, sending shares higher [FOX Business Network]
Berkshire Hathaway Inc. New (BRK.B)
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Source: FOX Business Network
Warren Buffett's Berkshire Hathaway revealed a new $6.72 billion investment in insurance firm Chubb in a regulatory filing on Wednesday, which propelled the company's stock to an all-time high. Berkshire owned 25.92 million shares in Chubb as of March 31, according to a regulatory filing that details Berkshire's U.S.-listed holdings as of that date. Chubb's stock, which edged slightly lower by 0.13% during the day's trading session, soared by more than 7.5% in after-hours trading to $271.96 a share as of Wednesday evening — a record high price. Those gains mirror the tendency of stocks rising after Berkshire Hathaway reveals them as new holdings in its portfolio as it reflects what investors view as Buffett's seal of approval. "Chubb is an attractive equity investment for Berkshire because it operates in a business Berkshire knows well: property-casualty insurance ," Cathy Seifert, a CFRA Research analyst who covers Berkshire, said in an email reviewed by Reuters. Ticker
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- Berkshire Hathaway Inc. Information Regarding Third Quarter Earnings ReleaseBusiness Wire
BRK.B
Earnings
- 8/5/24 - Beat
BRK.B
Sec Filings
- 10/23/24 - Form 8-K
- 10/11/24 - Form 424B5
- 10/10/24 - Form FWP
- BRK.B's page on the SEC website