Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in

  • 📰 CNN
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 95%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year.

Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. That translates to a value of approximately $6.7 billion. Buffett’s company had shielded the position from public knowledge as it was building the stake, requesting “confidential treatment” from the SEC in previous filings.

Chubb’s stock jumped by more than 8% in after-hours trading on Wednesday. Buffett’s bet on Chubb is familiar territory: iInsurance companies Geico, National Indemnity and General Re are all subsidiaries of Berkshire Hathaway. The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. It has seemingly doubled down on financial companies like Ally Financial, American Express and Bank of America while trimming its investments in consumer products.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 4. in BR

Brasil Últimas Notícias, Brasil Manchetes