恒生银行(00011)发布公告，该公司于2025年9月29日斥资2365.01万港元回购20万股股份，每股回购价格 为117.4-118.9港元。 ...

恒生银行(00011)公布，2025年8月26日耗资约2256.29万元回购20万股股份。 ...

Core Insights - Berkshire Hathaway Inc. has increasingly integrated share repurchases into its capital allocation strategy, shifting from a historical focus on acquisitions and reinvestment since 2018 [1][4] - The company repurchased $2.9 billion worth of stock in 2024, which has positively impacted earnings per share (EPS) and return on equity (ROE) [2][8] - The buyback strategy reflects management's confidence in the company's intrinsic value and serves as a response to limited acquisition opportunities [3][4] Capital Allocation Strategy - The revised buyback policy allows repurchases when shares are below intrinsic value, provided Berkshire retains at least $30 billion in cash and equivalents [1] - Buybacks have become a vital tool for returning capital to shareholders, especially in the absence of compelling acquisition targets [2][4] Financial Performance - The repurchase activity has led to a reduction in shares outstanding, enhancing EPS and ROE, which improves valuation metrics and investor appeal [2][8] - Despite stable net income, the buybacks have provided a financial boost, reinforcing shareholder confidence in the stock's long-term potential [3][4] Competitive Landscape - Travelers Companies returned over $1.4 billion to shareholders, including $0.9 billion in share repurchases in the first half of 2025, indicating a similar strategy among competitors [5] - Chubb Limited has a $5 billion buyback program, reflecting strong capital discipline and management confidence in long-term profitability [6] Stock Performance - BRK.B shares have gained 5% year to date, outperforming the industry average [7] - The stock currently trades at a price-to-book value ratio of 1.56, slightly above the industry average of 1.52 [9] Earnings Estimates - The Zacks Consensus Estimate for BRK.B's EPS for the second and third quarters of 2025 has remained unchanged over the past 30 days, with full-year estimates also stable [11][12]