Overall Sustained Momentum Contributed to Chubb Limited’s (CB) Outperformance in Q3

Aristotle Atlantic Partners, LLC, an investment management company, released its “Core Equity Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy delivered a total return of -4.87 % gross of fees (-4.98% net of fees) trailing the S&P 500 Index’s total return of -3.27%. The underperformance relative to the index in the quarter was due to both security selection and allocation effects. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Aristotle Atlantic Core Equity Strategy highlighted stocks like Chubb Limited (NYSE:CB) in the third quarter 2023 investor letter. Headquartered in Zurich, Switzerland, Chubb Limited (NYSE:CB) is an insurance and reinsurance products-providing company. On December 11, 2023, Chubb Limited (NYSE:CB) stock closed at $224.47 per share. One-month return of Chubb Limited (NYSE:CB) was 2.24%, and its shares gained 3.42% of their value over the last 52 weeks. Chubb Limited (NYSE:CB) has a market capitalization of $91.582 billion.

Aristotle Atlantic Core Equity Strategy made the following comment about Chubb Limited (NYSE:CB) in its third quarter 2023 investor letter:

“Chubb Limited (NYSE:CB) contributed to outperformance due to sustained momentum across business units and global regions, a favorable property and casualty (P&C) rate environment and an attractive valuation with shares trading below historical averages. The company’s earnings report early in the quarter highlighted its underwriting and risk-assessment capabilities, with management projecting a continuation of what we believe are positive pricing trends through the remainder of this year.”

A financial analyst giving a presentation to a group of investors about annuity insurance.

Chubb Limited (NYSE:CB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Chubb Limited (NYSE:CB) at the end of third quarter which was 50 in the previous quarter.

We discussed Chubb Limited (NYSE:CB) in another article and shared the list of best business insurance companies heading into 2024. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.