Core Insights - Berkshire Hathaway Inc. significantly reduced its stake in Amazon.com Inc. by over 75% in Q4, while acquiring a new stake in the New York Times Co. valued at $351.7 million [1][2] Investment Actions - Berkshire acquired 5.1 million shares of the New York Times Co. during the last quarter of the year [1] - The company now holds approximately 2.3 million shares of Amazon after the reduction [2] - Berkshire continued to decrease its stakes in Bank of America Corp. and Apple Inc., bringing them to 7.1% and 1.5% respectively [3] - The stakes in oil producer Chevron Corp. and insurance firm Chubb Ltd. were increased to 6.5% and 8.7% respectively [3] Market Reactions - The New York Times shares rose by 1.8% to $75.39 in early trading following the news [2] - Amazon shares increased by 1.3% in the same trading session [2] - Chubb's shares experienced an approximate 11% rise over Q4 after speculation about a potential acquisition of American International Group Inc. [4] Strategic Moves - Buffett, who stepped down as CEO on December 31, has been actively pursuing new investments, including a $9.7 billion deal for Occidental Petroleum Corp.'s petrochemical business and a $5.6 billion stake in Alphabet Inc. [5]

Core Insights - The company will increase its quarterly dividend to 99 cents per share from 90 cents in the previous quarter, indicating a positive outlook on financial performance [1] - The recent acquisition of RF Capital Group Inc. is exceeding initial expectations, enhancing the company's position in the wealth management sector [1] Canadian Insurance Segment - Core earnings for the Canadian insurance segment were $105 million in the fourth quarter, a decrease of 15% from $116 million a year earlier, primarily due to unfavorable morbidity in special markets, although this was partially offset by favorable mortality experience [2] - The segment also experienced higher expected earnings from individual insurance and employee plans [2] Wealth Management Segment - Core earnings in the wealth management segment rose to $127 million in the fourth quarter, up from $112 million in the same period of 2024, driven by strong net segregated fund sales and favorable financial markets [3] - The increase was partially offset by the higher impact of new insured annuities sales in group savings and retirement [3] - As of December 31, 2025, the company had $341.1 billion in assets under management and administration, reflecting a 31% year-over-year increase [3]

Core Viewpoint - Berkshire Hathaway (BRK.B) is anticipated to show an increase in revenues but a decline in earnings for the fourth quarter of 2025, with revenues expected to reach $102.9 billion, reflecting an 8.4% year-over-year growth, while earnings per share are projected at $5.19, indicating a 22.9% decrease from the previous year [1][2][7]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for BRK.B's fourth-quarter revenues is $102.9 billion, marking an 8.4% increase from the prior year [1]. - The consensus estimate for earnings is $5.19 per share, unchanged over the past 30 days, suggesting a year-over-year decline of 22.9% [2]. Earnings Surprise History - Berkshire Hathaway has a mixed earnings surprise history, beating the Zacks Consensus Estimate in two of the last four quarters, with an average surprise of 19.18% [3]. Earnings Prediction Model - The current model does not predict an earnings beat for BRK.B, as it lacks the necessary combination of a positive Earnings ESP and a favorable Zacks Rank [4][5]. Factors Influencing Q4 Results - The insurance operations are expected to benefit from improved pricing, strong policy retention, and higher average auto premiums, while underwriting profitability may have been supported by a mild catastrophe environment [6][7]. - GEICO is likely to report gains from increased policies, higher premiums, and improved operating efficiencies [8]. - The railroad subsidiary, BNSF, may face challenges from an unfavorable business mix but could see support from higher unit volumes and reduced operating expenses [9]. - The utilities and energy segment is expected to perform strongly due to increased contributions from natural gas pipelines [9]. - The Service and Retail divisions are likely to benefit from a strengthening economic backdrop, contributing to revenue growth and margin expansion [10]. Valuation and Performance - BRK.B's stock has outperformed the industry but underperformed compared to the sector and the S&P 500 in Q4 2025 [11]. - The stock is trading at a price-to-book value of 1.55X, which is lower than the industry's 1.48X, indicating attractive valuation compared to other insurers [12]. Business Model and Financial Stability - The insurance operations are a core component of Berkshire's business model, accounting for approximately one-quarter of total revenues and serving as a key growth engine [12]. - The insurance float has increased from around $114 billion in 2017 to $176 billion by Q3 2025, providing a low-cost capital source for investments [17]. - Berkshire's strong financial position supports steady share repurchases, contributing to long-term shareholder value [18]. Investment Considerations - Berkshire Hathaway's diversified business model offers stability and potential growth, particularly in its insurance segment, which is expected to benefit from solid results at GEICO and higher interest income [19]. - However, factors such as premium valuation, unfavorable return on capital, and expected earnings decline suggest caution for investors considering BRK.B stock at this time [20].

NMI Holdings (NMIH) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changing ear ...

Core Insights - UnitedHealth Group faced significant challenges in the previous year, including leadership changes and a government investigation into its Medicare billing practices [1] - The company has taken proactive measures to address its issues, including the return of former CEO Stephen Hemsley and the initiation of an independent study to improve its processes [2] - Rising healthcare costs and increased service utilization have negatively impacted UnitedHealth's earnings growth, prompting the company to adjust its pricing and cut certain plans [5] Company Actions - UnitedHealth's independent study found its processes to be "robust," while also providing recommendations for further improvement [7] - The company aims to focus on execution and anticipates increased momentum in its growth trajectory through 2027 [6] Industry Challenges - A new challenge has emerged with the Trump administration's proposal to keep Medicare Advantage payment rates flat in 2027, which could affect the profitability of insurers [8] - The proposed increase in payment rates by only 0.09% for the upcoming year raises concerns about the financial sustainability of insurers like UnitedHealth [8]

Core Insights - The article discusses the phenomenon termed the "AI Scare Trade," where stocks in various industries drop significantly at the hint of potential disruption from AI technologies [1][5]. Industry Impact - Recent weeks have seen the AI wrecking ball affect multiple sectors, including wealth services, real estate, insurance, rating agencies, and trucking, with notable stock price declines: S&P and Moody's down -25% and -20% respectively, and Raymond James down -10% following the announcement of a financial planning AI tool [2]. - In the trucking industry, Algorhythm Holdings reported a 300% to 400% increase in freight volumes without adding headcount, leading to substantial market capitalization losses for truck transport shares [4]. Market Reactions - The market's reaction to AI-related news appears to be overblown, with short-term drops of -5% to -20% in various stocks, driven by retail investors and algorithmic trading [5]. - The divergence in market performance is notable, with the current level of performance dispersion among index members resembling that seen during market sell-offs, despite the overall market indices being only slightly down from their all-time highs [8][9]. Investment Considerations - Concerns are rising regarding the return on investment for hyperscalers investing heavily in AI infrastructure, as evidenced by the increase in credit default swaps for Oracle from 40 bps to 160 bps [6]. - The market may be pricing in excessive doom and gloom based on isolated headlines, suggesting that while disruption is likely, it may not be as catastrophic as currently anticipated [7][11].

Berkshire's NYT Stake Looks Like New Abel, Not Old Buffett - Moby BREAKING NEWS Let's start with what portfolio management looks like when you're piloting $561 billion. You trim Apple by 4.3%, which sounds like discipline until you realize the remaining stake is still worth $61.96 billion. That's more than the entire market cap of Ford. Buffett has been shaving Apple for years now, methodically turning a concentrated bet into something merely enormous, and the stock gained 9% in 2025 while the S&P 500 ran ...

Unum Group (NYSE: UNM) doesn't operate in a hypergrowth sector, nor is it making moonshot bets on unproven technology. Instead, it produces steady income from the health, disability, and benefits coverage corner of the insurance market. That stability and predictability have helped lift the stock price by 180% over the past five years, which was more than double the 75% return of the S&P 500 over the same period. Will AI create the world's first trillionaire? Our team just released a report on the one lit ...

The upcoming report from Skyward Specialty Insurance (SKWD) is expected to reveal quarterly earnings of $0.93 per share, indicating an increase of 16.3% compared to the year-ago period. Analysts forecast revenues of $374 million, representing an increase of 22.9% year over year.The consensus EPS estimate for the quarter has undergone a downward revision of 2.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimate ...

U.S. Auto Insurance Policy Shopping and New Business Growth Continue to Break Records in Q4 with "Hot" Readings on the LexisNexis® U.S. Insurance Demand Meter [Accessibility Statement] Skip NavigationATLANTA, Feb. 18, 2026 /PRNewswire/ -- Shopping for U.S. auto insurance remained in high gear through the fourth quarter of 2025, according to the latest [U.S. Insurance Demand Meter] from [LexisNexis® Risk Solutions.] The quarterly year-over-year shopping growth registered "Hot", rising to 6.9% on the Demand M ...