Chubb Stock Climbs After Berkshire Hathaway Purchases Shares
Portfolio Pulse from Erica Kollmann
Chubb Limited (NYSE:CB) shares surged after Berkshire Hathaway disclosed in an SEC filing that it purchased 25.92 million shares valued at over $6.717 billion. Wall Street analysts generally rate Chubb as 'Outperform,' with Citigroup's Michael Ward predicting a 15.55% rise in the stock over the next year. Chubb's stock rose 0.72% in the past three months and its revenue increased by 12.43% over the past year. Following the news, Chubb shares climbed 5.15% after-hours to $266.
May 15, 2024 | 9:09 pm
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Chubb Limited shares surged 5.15% after Berkshire Hathaway disclosed a significant purchase of 25.92 million shares valued at over $6.717 billion. Analysts rate Chubb as 'Outperform,' with a 15.55% rise expected in the next year.
The significant purchase by Berkshire Hathaway is a strong vote of confidence in Chubb, likely driving the stock price up. Additionally, positive analyst ratings and a recent revenue increase further support a bullish outlook.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100