Chubb at record high after Berkshire Hathaway reveals $6.7 bln stake

Chubb

16/05/2024 15:55

(Updates)
    ** U.S.-listed shares of insurer Chubb  CB.BN ,  CB.N 
trading at record high levels; last up 3.3% at $261.52 in early
trading
    ** Warren Buffett's Berkshire Hathaway  BRKa.N  disclosed
its stake of nearly 26 mln shares worth ~$6.72 bln as of March
31
    ** CB among the top 10 holdings in BRKa's portfolio
    ** Berkshire began buying CB shares in last year's Q3,
obtaining the U.S. Securities and Exchange Commission's
permission to temporarily keep its purchases confidential
    ** 13 out of 25 analysts rate the stock "buy" or higher, 11
"hold" and 1 "sell"; median PT $275 - LSEG data
    ** As of last close, stock up ~12% YTD vs a 11.3% rise in
benchmark S&P 500  .SPX 

 (Reporting by Nikhil Sharma and Pritam Biswas in Bengaluru)
 ((nikhil.sharma@thomsonreuters.com))