Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally. It operates in three segments: Global Wealth Management, Institutional Group, and Other. The company provides private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading and research, and municipal finance services; investment banking services, such as mergers and acquisitions, public offerings, and private placements; and retail and commercial banking services comprising personal and commercial lending programs, as well as deposit accounts. It participates in and manages underwritings for corporate and public finance; and offers financial advisory and securities brokerage services. The company was founded in 1890 and is headquartered in Saint Louis, Missouri.

Stifel Financial Corporation

Key Points
Nuclear power is gaining renewed interest due to increasing electricity demand from advances in AI.
Centrus Energy plays a critical role in the nuclear supply chain, providing low-enriched uranium and advanced uranium enrichment services.
It has an opportunity to become a domestic producer of high-assay, low-enriched uranium used in the next generation of nuclear reactors.
Nuclear power may have taken a back seat in the last decade, but it's roaring back to the forefront thanks to the electrification of our grid and advances in artificial intelligence (AI).
According to the Bank of America Institute, U.S. electricity demand is projected to skyrocket at an impressive 2.5% compounded annually -- 5 times faster than the previous decade. Nuclear power is the largest source of low-carbon, clean energy, accounting for 18% of U.S. electricity today. With interest in nuclear energy surging, now may be the time to get in.
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Centrus Energy (NYSEMKT: LEU) is one nuclear company that could play a pivotal role. As the U.S. aims to reduce reliance on foreign energy, Centrus could become a vital player in the domestic nuclear fuel supply chain.
The stock has been volatile, trading as low as $50 and as high as $464 this year. Today, the stock is down 47% from its 52-week high, and shares are priced below $270. Does that make Centrus a buy today? Let's dive into the investment opportunity ahead to find out.
Centrus plays a key role in the nuclear supply chain
Centrus Energy provides nuclear fuel components, along with enrichment and technical services, to customers. The bulk of its revenue comes from its low-enriched uranium (LEU) segment. Here, it sells LEU, the fissile component of most nuclear fuel, to utilities that operate commercial nuclear power plants. To fulfill its delivery commitments to customers, it sources uranium and related products from a range of global suppliers.
In its technical solutions segment, Centrus provides advanced uranium enrichment for the nuclear industry and the U.S. government, along with advanced manufacturing, engineering, and other technical services to both government and private-sector customers. A significant portion of this segment's revenue is derived from the high-assay, low-enriched uranium (HALEU) operation contract with the Department of Energy.
At the moment, there are no commercially active HALEU reactors. The only HALEU reactors are test reactors, and these may not be operational until the late 2020s or early 2030s. A few companies are developing HALEU or HALEU-capable reactor designs, including TerraPower, Kairos Power, Westinghouse Electric, and Oklo.
Domestic nuclear fuel production is a huge opportunity
Centrus Energy is uniquely positioned as the only producer of HALEU for both commercial and national security applications that is licensed by the Nuclear Regulatory Commission (NRC). It's also the only company capable of producing HALEU outside of Russia, which is vital as HALEU will power the next generation of nuclear reactors.
Centrus is also the only U.S. company with a proven enrichment technology capable of meeting both commercial and national security needs. Stifel analysts have noted Centrus is "uniquely positioned" to play a significant role in rebuilding the nuclear enrichment supply chain.
Right now, Centrus relies on outside sources to deliver LEU. It has two commercial agreements to sell LEU, one of which is with TEXEX, a Russian entity, which it will need to diversify away from in the coming years. The company currently has a waiver from the Department of Energy that allows it to import LEU for all of its committed deliveries to U.S. customers in 2026 and 2027. However, the Russian LEU import ban is expected to be fully phased in by 2028 -- creating an urgent need to replace about 25% of enriched uranium currently imported from Russia.
Centrus aims to produce LEU and HALEU in-house using its advanced centrifuge technology. To do this, it will need to expand the uranium enrichment capacity at its Piketon, Ohio, plant. This hinges on Department of Energy funding, private investment, and long-term customer commitments. If Centrus succeeds, it could transition from reseller to a producer of key nuclear fuels.
Is Centrus Energy stock a buy?
Centrus is well positioned to become a key player in the nuclear fuel supply chain. The stock isn't cheap by any means, priced at 48.6 times this year's projected earnings per share (EPS). However, with the recent decline in the stock price, it's well off its high valuation of 88 times this year's EPS. Its growth trajectory is heavily dependent on becoming a primary domestic supplier of nuclear fuel. The timing of the growth is uncertain, as it's tied to the build-out of its Piketon plant, which will require significant upfront investment.
Centrus' valuation remains on the high end, but reflects investor optimism about its potential role in the future of nuclear energy. The stock is pricey, which makes it vulnerable to large price swings, so it's not ideal for conservative investors with a short time frame.
That said, I believe nuclear is the future, and Centrus Energy could be an important player, which is why I think this dip is a good opportunity for investors to build a small position in the nuclear company.
Should you invest $1,000 in Centrus Energy right now?
Before you buy stock in Centrus Energy, consider this:
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Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $562,536!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,096,510!*
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Bank of America is an advertising partner of Motley Fool Money. Courtney Carlsen has positions in Centrus Energy. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should You Buy Centrus Energy While It's Below $270?

Key Points
Shares of Circle Internet Group and The Trade Desk have fallen sharply this year, but certain analysts are forecasting substantial upside for shareholders.
Circle is the issuer of stablecoin USDC; the market is expected to grow rapidly because stablecoins support faster and cheaper transactions than traditional payments solutions.
The Trade Desk is the leading ad-buying platform for the open internet; its independent business model affords the company an important advantage over rivals like Meta and Google.
Shares of Circle Internet Group (NYSE: CRCL) and The Trade Desk (NASDAQ: TTD) have fallen 73% and 71%, respectively, from their highs. But certain Wall Street analysts believe the stocks are deeply undervalued.
Jeff Cantwell at Seaport Research recently set his target price on Circle at $280 per share. That implies 300% upside from its current share price of $70.
Mark Kelley at Stifel recently set his target price on The Trade Desk at $90 per share. That implies 125% upside from its current share price of $40.
Investors can purchase a share of both stocks with $110 as of Nov. 19. Here's why that's a good idea.
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Circle Internet Group: 300% implied upside
Fintech company Circle is the issuer of stablecoins USDC (CRYPTO: USDC) and EURC (CRYPTO: EURC), digital currencies tied to the U.S. dollar and the European euro, respectively. Stablecoins use blockchain to facilitate faster and cheaper transactions than traditional payment systems. USDC is the second-largest stablecoin by market value.
Circle earns the vast majority of its revenue from interest on reserve assets. Its stablecoins are backed by fiat currency reserves, which are held in cash or invested in short-term Treasuries. Reserve income is a function of circulating supply and interest rates, so monetary policy decisions from the Federal Reserve have a big impact on the company.
However, Circle is expanding into payments. The Circle Payments Network lets banks and other businesses move USDC balances, supporting use cases like remittances, supplier payments, and employee payroll. Management says 29 financial institutions have already joined the network, and the overall pipeline of companies looking to join recently hit 500.
Circle expects the volume of circulating USDC to grow at 40% annually for the foreseeable future. In turn, Wall Street expects revenue to increase at 33% annually through 2027. That makes the current valuation of 6.5 times sales look quite reasonable. Circle has fallen from its high partly because the market anticipates lower interest rates in the coming months, but the current price is still a good buying opportunity for long-term investors, though 300% returns in the next year seem overly ambitious.
The Trade Desk: 125% implied upside
The Trade Desk is the leading demand-side platform (DSP) for the open internet. A DSP is a type of ad tech software that helps brands plan, measure, and optimize campaigns across digital channels. The open internet refers to the network of websites and applications not controlled by tech giants like Meta Platforms and Alphabet's Google.
The Trade Desk dominates connected TV (CTV) advertising, one of the fastest-growing categories in the market. But the stock has dropped sharply because investors are concerned about increased competition from Amazon, which recently reached deals to access advertising inventory from Roku and Netflix. Amazon also debuted AI tools that may help it take share across other areas of the open web.
However, The Trade Desk has an important advantage in its independence. It does not own media content or advertising inventory that could bias spending on its platform. Not only does that eliminate conflicts of interest inherent to Meta and Google, but it also means publishers are more willing to share data because The Trade Desk is not a competitor. In turn, the company says it has the best campaign measurement tools on the market.
Grand View Research estimates ad tech spending will increase at 14% annually through 2030. In turn, Wall Street expects The Trade Desk's adjusted earnings to increase at 15% annually over the next three years, which makes the current valuation of 22 times earnings look quite reasonable. While triple-digit returns in the next year may be a stretch, investors should feel comfortable buying a small position in this stock today.
Should you invest $1,000 in Circle Internet Group right now?
Before you buy stock in Circle Internet Group, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Circle Internet Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $615,279!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,111,712!*
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Trevor Jennewine has positions in Amazon, Roku, and The Trade Desk. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Netflix, Roku, and The Trade Desk. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Brilliant Stocks to Buy With $110 Before They Soar Up to 300%, According to Wall Street Analysts

In trading on Monday, shares of Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B (Symbol: SF.PRB) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.5625), with shares changing hands as low as $23.73 on the day. This compares to an average yield of 6.63% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SF.PRB was trading at a 1.80% discount to its liquidation preference amount, versus the average discount of 9.33% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
The chart below shows the one year performance of SF.PRB shares, versus SF:
Below is a dividend history chart for SF.PRB, showing historical dividend payments on Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B:
In Monday trading, Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B (Symbol: SF.PRB) is currently down about 0.3% on the day, while the common shares (Symbol: SF) are up about 0.8%.
Also see:
Financial Dividend Stock List
ALE Options Chain
NAT Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stifel Financial's Preferred Stock, Series B Yield Pushes Past 6.5%

Key Points
Meyer Shields of Keefe, Bruyette & Woods recently downgraded Berkshire Hathaway stock to a sell rating.
Many of Berkshire's businesses face a number of macroeconomic headwinds.
Warren Buffett has successfully navigated numerous stock market environments during the last six decades.
Warren Buffett is one of the most recognized and celebrated personalities in modern finance. During the past 60 years, he has helped build Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) into a investment conglomerate spanning various industries -- consumer goods, financial services, infrastructure, energy, and much more.
Despite a long-term track record of success, one analyst on Wall Street sees trouble ahead for Berkshire. Last week, Meyer Shields of Keefe, Bruyette & Woods, part of Stifel Financial, downgraded Berkshire stock to underperform (the equivalent of a sell rating).
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Let's break down what has Shields so concerned and assess whether now is a good time to trim a position in Berkshire stock.
Why did Meyer Shields downgrade Berkshire Hathaway stock?
During a recent interview with Yahoo! Finance, Shields broke down the rationale behind his Berkshire downgrade in great detail. And honestly? A lot of what he explained makes fundamental sense.
Shields astutely points out that a good deal of Berkshire's portfolio is concentrated around insurance businesses. One of the company's most iconic assets is the insurer GEICO, a wholly owned subsidiary. Broadly speaking, one of its specialties, auto insurance, is a relatively commoditized business.
What I mean by that is most consumers don't notice much of a difference in quality among insurers. Rather, they are simply looking to get the best deal -- paying the lowest premium. In an effort to stay competitive, GEICO has been slowing down the pace at which it raises rates across its customer base. Shields contends that a move like this could put downward pressure on Berkshire's profitability margins.
In addition, many economists think the Federal Reserve will continue loosening its monetary policy during the coming months. Considering Berkshire's balance sheet currently holds $382 billion in cash and short-term U.S. Treasury bills, lower interest rates will tighten yields on these investments.
The other headwinds that Shields called out relate to the Trump administration's policies.
For example, some of the companies under Berkshire's energy division benefit from green energy tax credits. However, President Donald Trump's Big, Beautiful Bill phases out many of these incentives, which could damp the profitability of Berkshire's energy subsidiaries.
Lastly, Shields also notes that railroad activity is below historical volumes, suggesting the trade tensions with China are weighing on freight volumes. Berkshire is vulnerable to these dynamics given its heavy exposure to rail and infrastructure.
Valid concerns do not always mean that it's time to sell
On the surface, I agree with much of what Shields outlined in his report. But I see many of his concerns as relatively short-term issues.
Bear in mind that Buffett has been at the helm of Berkshire for 60 years. Between 1965 and 2024, its stock returned 5,502,284%. During this same period, the S&P 500 (SNPINDEX: ^GSPC) rose by 39,054% with dividends reinvested.
I bring these statistics into the equation for one reason above all else: Buffett has proved to be a master at navigating the stock market across various economic cycles, different interest rate environments, and numerous administrations in Washington. No matter the conditions, Berkshire has been a resilient investment overall. And even though Buffett is stepping down as chief executive officer at year-end, his successor is steeped in Berkshire's investing philosophy, so I don't expect much to change in that respect.
Is Berkshire Hathaway stock a buy right now?
Looking at the price-to-book ratio (P/B) is an appropriate valuation measure to benchmark Berkshire given the company's asset-heavy structure spanning railroads, infrastructure, energy, retail, and of course its equity portfolio.
Right now, Berkshire's P/B multiple of 1.5 is only nominally above its 10-year average. In my eyes, this suggests the stock is reasonably valued.
However, looking through a more macro lens provides some nuance to this analysis.
Currently, the S&P 500 Shiller CAPE ratio is hovering around 40. As the trends above indicate, this is within shouting distance of peaks seen during the dot-com bubble.
Against this backdrop, valuations across the overall stock market look stretched. Moreover, investors can see from the chart above that higher CAPE readings often precede periods of sharp corrections.
In my eyes, Berkshire's decision to pad its balance sheet with cash and Treasuries appears very much strategic and calculated. While Berkshire stock may not be a deep value play at the moment, its balanced valuation relative to the broader market and its cash-rich liquidity profile make it a rational defensive opportunity in an otherwise frothy market with elevated macroeconomic uncertainty.
Should you invest $1,000 in Berkshire Hathaway right now?
Before you buy stock in Berkshire Hathaway, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Berkshire Hathaway wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $595,194!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,153,334!*
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Adam Spatacco has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This Warren Buffett Stock Was Just Downgraded by a Wall Street Analyst. Here's What Investors Should Know Before Selling.

Roper Technologies announced that its Board of Directors has declared a quarterly cash dividend of $0.91 per share, reflecting a 10% increase compared to the prior quarterly dividend, payable on January 16, 2026 to stockholders of record on January 2, 2026. This represents an increase of 10% over the dividend paid in each quarter of 2025, or an expected $0.34 increase on an annual basis, $0.085 on a quarterly basis. This is the thirty-third consecutive year in which Roper has increased its dividend.
Stifel Financial today announced that its Board of Directors has declared a cash dividend on shares of its common stock of $0.46 per share, payable December 15, 2025, to shareholders of record at the close of business on December 1, 2025.
The Board of Directors of BDX has declared a quarterly dividend of $1.05 per common share, an increase of 1.0% from the previous quarter. The dividend will be payable on December 31, 2025 to holders of record on December 8, 2025. The indicated annual dividend rate for fiscal year 2026 is $4.20 per share. "This is the 54th consecutive fiscal year in which we have raised our dividend, maintaining BD's membership in the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends for at least 25 consecutive years," said Tom Polen, chairman, CEO and president of BD. "This increase, even as we execute the Waters RMT transaction, reflects our confidence in our long-term outlook, as well as our ongoing commitment to create value and return capital to shareholders."
Dupont today announced that its Board of Directors has declared a quarterly dividend for new DuPont of $0.20 per share on its outstanding common stock, payable December 15, 2025, to holders of record at the close of business on November 28, 2025. The dividend is in line with new DuPont's targeted 35-45% payout ratio.
ADM's Board of Directors has declared a cash dividend of 51.0 cents per share on the company's common stock. The dividend is payable on Dec. 11, 2025, to shareholders of record on Nov. 19, 2025. This is ADM's 376th consecutive quarterly payment, a record of more than 94 years of uninterrupted dividends. As of Sept. 30, 2025, there were 480,569,690 shares of ADM common stock outstanding.
VIDEO: Daily Dividend Report: ROP,SF,BDX,DD,ADM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Daily Dividend Report: ROP,SF,BDX,DD,ADM

Key Points
Bought 66,660 shares of WLY; estimated trade value of approximately $2.69 million based on the average price for the third quarter of 2025
Transaction represented 0.72% of the fund’s reported U.S. equity assets under management (AUM)
Post-trade stake: 155,940 shares valued at $6.31 million
Position accounts for 1.7% of AUM as of September 30, 2025, placing it outside the fund’s top five holdings
Image source: Getty Images
On November 4, 2025, Access Investment Management LLC disclosed a purchase of 66,660 shares of John Wiley & Sons (NYSE:WLY), an estimated $2.69 million trade based on the average price for the quarter ended September 30, 2025.
Bought 66,660 shares of WLY; estimated trade value of approximately $2.69 million based on the average price for the third quarter of 2025
Transaction represented 0.72% of the fund’s reported U.S. equity assets under management (AUM)
Post-trade stake: 155,940 shares valued at $6.31 million
Position accounts for 1.7% of AUM as of September 30, 2025, placing it outside the fund’s top five holdings
What happened
According to a November 4, 2025, SEC filing, Access Investment Management LLC increased its stake in John Wiley & Sons (NYSE:WLY) by 66,660 shares in the third quarter of 2025. The estimated value of the purchase was $2.69 million, based on the average closing price for the quarter. After the trade, the fund held 155,940 shares of John Wiley & Sons, valued at $6.31 million.
What else to know
The filing reflects a buy; John Wiley & Sons now comprises 1.7% of reported U.S. equity AUM
Top five holdings after the filing:
URI: $30.47 million (8.2% of AUM)
JBL: $26.69 million (7.2% of AUM)
APO: $19.03 million (5.1% of AUM)
SF: $16.17 million (4.3% of AUM)
JPM: $14.32 million (3.8% of AUM)
As of November 3, 2025, shares were priced at $37.47, down 24.0% over the past year, underperforming the S&P 500 by 41.4 percentage points.
John Wiley & Sons reported $1.67 billion in trailing twelve-month revenue, with a 3.7% dividend yield.
Company overview
Revenue (TTM)
$1.67 billion
Net income (TTM)
$97.30 million
Dividend yield
3.7%
Price (as of November 3, 2025)
$37.47
Company snapshot
John Wiley & Sons is a global research and education publisher with a diversified portfolio of journals, books, and digital learning solutions. The company leverages its established reputation and broad distribution channels to serve the needs of academic, professional, and corporate customers worldwide.
Its multi-segment strategy and strong presence in the scientific and academic publishing space provide a resilient revenue base and competitive positioning within the education and research markets.
John Wiley & Sons offers scientific, technical, and medical journals, academic and professional books, digital courseware, and education services across research publishing, academic learning, and education services segments.
The company generates revenue through subscription and licensing of journals, direct sales of print and digital content, and provision of online program management and talent development services.
John Wiley & Sons serves research libraries, academic institutions, corporations, professionals, students, and learned societies globally.
Foolish take
John Wiley & Sons (NYSE: WLY) is drawing interest as it returns to its roots in research publishing and academic learning. Access Investment Management's latest 2.7 million addition to its position in Wiley shares echoes a vote of confidence in the company's direction.
After a period of restructuring, Wiley is streamlining operations around its strongest and most dependable business lines to build a steadier foundation for growth. The company's core business model is steadily relying on its peer-reviewed journals supported by long-standing academic societies and recurring contracts. The model continues to generate reliable revenue through subscriptions and open-access fees, and AI licensing agreements add a fresh contractual revenue stream for monetizing verified scientific data. Together, they position Wiley as both a strong traditional publisher and an emerging data provider.
Wiley's story today is about steady rebuilding, not reinvention. Investors should watch for its continued progress on margins and the expansion of digital licensing. Wiley's next chapter will depend on disciplined execution. In publishing, trust and time often deliver the best returns.
Glossary
AUM: Assets under management – The total market value of assets a fund or investment manager oversees.
Trailing twelve-month: Refers to a company's financial performance over the most recent 12 consecutive months.
Dividend yield: Annual dividends paid by a company divided by its current share price, expressed as a percentage.
Stake: The amount of ownership or shares held in a company by an investor or fund.
Position: The total quantity of a particular security or asset held in a portfolio.
Top five holdings: The five largest investments in a fund, ranked by market value or portfolio weight.
Buy (in context of filing): Indicates the fund or investor purchased additional shares of a security.
Equity: Ownership interest in a company, typically in the form of common or preferred stock.
Licensing (in publishing): Granting permission to others to use, distribute, or sell content for a fee.
Online program management: Services that help educational institutions deliver and manage online degree or certificate programs.
Talent development services: Programs or solutions aimed at improving employee skills and career growth within organizations.
TTM: The 12-month period ending with the most recent quarterly report.
Where to invest $1,000 right now
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,076%* — a market-crushing outperformance compared to 195% for the S&P 500.
They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor.
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JPMorgan Chase is an advertising partner of Motley Fool Money. Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Access Investment Management Adds to Wiley Stake as Investors Revisit the Publishing Leader

Key Points
Warren Buffett has overseen a nearly 5,840,000% cumulative return, spanning six decades, in Berkshire Hathaway's Class A shares (BRK.A).
Berkshire stock was hit with a rare sell rating by an analyst concerned about a laundry list of factors, including the imminent retirement of Warren Buffett in two months.
However, this Wall Street analyst appears to have overlooked the one catalyst that could upend Berkshire Hathaway's near-annual outperformance of the benchmark S&P 500.
Though investing on Wall Street offers no certainties, seeing Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) billionaire CEO Warren Buffett run laps around the benchmark S&P 500 (SNPINDEX: ^GSPC) in the return column over long periods has been pretty close to a guarantee.
Since the Oracle of Omaha ascended to the CEO role in 1965, he's overseen a cumulative return in Berkshire's Class A shares (BRK.A) of almost 5,840,000%, as of the closing bell on Oct. 28. In comparison, the broad-based S&P 500 has rallied less than 46,000%, including dividends paid, over the same timeline.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
But all things eventually change. Buffett announced his intention to retire from the CEO role at Berkshire Hathaway's annual shareholder meeting in May, which has fueled questions and uncertainty about the company's future.
It's also spurred an incredibly rare sell rating from Wall Street -- albeit the covering analyst failed to mention the biggest risk factor facing Berkshire Hathaway in the immediate future.
Billionaire Warren Buffett's company just received a rare sell rating
Before the opening bell on Monday, Oct. 27, analyst Meyer Shields of Keefe, Bruyette & Woods (KBW), a subsidiary of Stifel Financial, reduced his rating on Berkshire's Class A shares from market perform to underperform, which is the equivalent of "sell," and lowered his firm's price target to $700,000 per share from $740,000. For context, Shields' price target implied a shade over 5% downside in Berkshire's Class A shares, relative to where they closed out the previous week.
Shields provided a laundry list of potential red flags that have spurred this skepticism in a company known for crushing Wall Street's broad-based stock indexes.
First, as expected, there's the succession risk of Warren Buffett stepping down from the day-to-day CEO role at the end of the year. Even though predetermined successor Greg Abel will, in all likelihood, steer the ship in the same manner that Buffett has for the last six decades, there's arguably been a valuation premium built into Berkshire stock solely because Buffett was leading the charge. When the calendar changes to 2026, this premium likely disappears.
In addition to this obvious headwind, Shields pointed to multiple other factors that can weigh on Berkshire's operating results in the coming quarters, including:
The prospect of weaker auto insurance margins at GEICO.
The economic uncertainty created by President Donald Trump's tariffs, and what that might do to the roughly five dozen companies Berkshire owns outright, as well as its $314 billion investment portfolio.
The Trump administration's dismantling of clean energy tax credits, which may hurt the earning potential of Berkshire Hathaway Energy.
Declining interest rates, which can reduce the net interest income-earning potential of insurers and banks.
While these are tangible risks (albeit mostly short-term in nature), KBW's Meyer Shields may have overlooked the biggest risk of all for investors of Berkshire Hathaway: valuation.
This is the biggest risk to Berkshire Hathaway (and it has nothing to do with Buffett's retirement)
Let me make clear that there isn't a one-size-fits-all blueprint when valuing individual companies or the broader market. Every investor has a unique approach to evaluating businesses, which is one of the primary reasons the stock market is so unpredictable.
Nevertheless, a strong argument can be made that the biggest risk for Berkshire Hathaway stock in the coming quarters is its own valuation, as well as the valuations of some of its core investment holdings.
There may not be an investor on the planet who's more of a stickler for value and getting a good deal than the Oracle of Omaha. He's been a net-seller of stocks for 11 consecutive quarters (Oct. 1, 2022 – June 30, 2025), to the tune of $177.4 billion. Although he'd never bet against America or the stock market, he also won't chase after stocks if he doesn't feel as if he's receiving value for what he's purchasing.
The telltale sign that Berkshire Hathaway stock might be in a bit of short-term trouble is that Buffett stopped buying back shares of his own company in June 2024. Following 24 consecutive quarters of share repurchases (July 1, 2018 – June 30, 2024) totaling almost $78 billion, Buffett hasn't spent a cent to buy back his own company's stock in at least 13 months (June 1, 2024 – June 30, 2025).
The reason is simple: Berkshire Hathaway stock isn't intrinsically cheap. Buffett was consistently paying a premium of 30% to 50% over book value to repurchase shares from July 2018 to June 2024. But over the last year and change, Berkshire's premium to book value has surged to between 60% and 80%. Even with a near-record amount of cash at his disposal, Buffett isn't interested in buying back his own company's stock at its current premium.
Furthermore, the stock market is historically pricey. The "Buffett Indicator," which measures the cumulative value of all public companies divided by U.S. gross domestic product (GDP), hit an all-time high of more than 225% this week. For the sake of comparison, the market-cap-to-GDP ratio has averaged closer to 85% when back-tested to 1970.
The priciness of stocks is perhaps even more apparent with the S&P 500's Shiller Price-to-Earnings (P/E) Ratio, which is also commonly referred to as the cyclically adjusted P/E Ratio, or CAPE Ratio.
The Shiller P/E has averaged a reading of 17.29 when back-tested to January 1871. It ended Oct. 28 at a fresh high for the current bull market of 41.18, which is within striking distance of the highest-ever reading of 44.19, which was set in the months leading up to the bursting of the dot-com bubble.
Berkshire Hathaway's largest investment holding, tech goliath Apple (NASDAQ: AAPL), is currently valued at a trailing-12-month earnings multiple of almost 41! Not only does this represent a 36% premium to its trailing-five-year average P/E ratio, but it's a staggering premium for a company whose growth engine completely stalled over the previous three years.
Although valuation worries tend to be confined to the short-term, they are, by far, the biggest headwind for Berkshire Hathaway stock as we prepare to enter the post-Buffett era.
Should you invest $1,000 in Berkshire Hathaway right now?
Before you buy stock in Berkshire Hathaway, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Berkshire Hathaway wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $593,442!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,269,127!*
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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Warren Buffett's Berkshire Hathaway Was Just Downgraded to Sell by a Wall Street Analyst -- but He Somehow Missed the Biggest Risk Factor

Key Points
Halliburton beat analysts' Q3 2025 revenue and adjusted EPS estimates.
Several analysts hiked their price targets on Halliburton stock.
Shares of Halliburton are available at a discount to their historical valuation.
After climbing a modest 1.4% through last week, Halliburton (NYSE: HAL) stock has been roaring higher over the past few days. With the company reporting strong third quarter 2025 financial results on Tuesday and analysts boosting their price targets on Halliburton stock, investors have been eager to fuel their portfolios with shares of the company that provides services for energy companies.
According to data provided by S&P Global Market Intelligence, shares of Halliburton are up 22.2% from the end of trading last Friday through the close of Thursday's market session.
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Strong financial results is only part of what's powering the stock's rise
Beating analysts' expectations that it would post revenue of $5.4 billion, Halliburton reported $5.6 billion on the top line for Q3 2025. Similarly, the company exceeded analysts' estimates -- $0.50 -- with respect to adjusted earnings per share (EPS). Halliburton posted adjusted EPS of $0.58.
In light of the company's strong financial performance, analysts took to boosting their price targets on Halliburton stock:
RBC Capital and raised its price target to $31 from $26.
HSBC upgraded Halliburton to buy from hold and lifted its price target to $30 from $23.
Stifel raised the price target on Halliburton to $32 from $27.
Is Halliburton stock a buy after charging higher this week?
After the company's strong performance, it's unsurprising investors are interested in picking up shares of Halliburton -- though they should temper their expectation about the higher price targets. Analysts often have shorter investing horizons than the long-term investing periods The Motley Fool favors.
While Halliburton stock is soaring this week, energy investors interested in a position shouldn't feel dissuaded from buying shares. Trading at 8.4 times operating cash flow, Halliburton stocks is valued at a discount to its five-year average cash flow multiple of 9.3.
Should you invest $1,000 in Halliburton right now?
Before you buy stock in Halliburton, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Halliburton wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $600,550!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,116,616!*
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*Stock Advisor returns as of October 20, 2025
HSBC Holdings is an advertising partner of Motley Fool Money. Scott Levine has no position in any of the stocks mentioned. The Motley Fool recommends HSBC Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Halliburton Stock Is Charging Higher This Week

(RTTNews) - Stifel Financial Corp. (SF) reported a profit for its third quarter that Increases, from the same period last year
The company's earnings totaled $202.05 million, or $1.84 per share. This compares with $149.18 million, or $1.34 per share, last year.
Excluding items, Stifel Financial Corp. reported adjusted earnings of $214.41 million or $1.95 per share for the period.
The company's revenue for the period rose 10.8% to $1.634 billion from $1.475 billion last year.
Stifel Financial Corp. earnings at a glance (GAAP) :
-Earnings: $202.05 Mln. vs. $149.18 Mln. last year. -EPS: $1.84 vs. $1.34 last year. -Revenue: $1.634 Bln vs. $1.475 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stifel Financial Corp. Reveals Advance In Q3 Income

Key Points
Microsoft is a financial fortress with a huge AI tailwind.
The stock is a Wall Street darling, for good reasons.
However, Microsoft faces risks, including a potential AI infrastructure spending slowdown.
Any way you look at it, Microsoft (NASDAQ: MSFT) is a juggernaut. Its Windows operating system is used in over 70% of desktop PCs. Millions of people use Microsoft's productivity software. Microsoft Azure is the second-largest cloud services provider. The company now trails only Nvidia (NASDAQ: NVDA) in market cap. It's one of the biggest beneficiaries of a massive artificial intelligence (AI) tailwind.
Is investing in this top AI stock free money? It might be easy to jump to that conclusion. However, I wouldn't go that far. But while investing in Microsoft stock isn't free money, I think it's a smart money move.
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Microsoft's appeal
It's not an exaggeration to say that Microsoft is a financial fortress. The tech giant generated a whopping $281.7 billion and earnings of $101.8 billion in fiscal year 2025, which ended June 30, 2025. Both the top and bottom lines increased by 15% year over year. Microsoft isn't just huge, it's nimble.
What's driving this impressive growth? In large part, AI. In my view, Microsoft made a brilliant move a few years ago by investing in and partnering with OpenAI. Today, the company has OpenAI's GPT-5 large language model (LLM) integrated throughout its product lineup. This integration is paying off handsomely.
The demand for anything and everything AI-related has provided a huge catalyst for Microsoft's cloud services. In its latest quarter, the company's Intelligent Cloud segment (which includes Azure) revenue soared 26% year over year.
Microsoft is also staking a claim in one of the most exciting new opportunities -- quantum computing. Earlier this year, the company introduced its Majorana 1 quantum chip powered by a new type of material called a topoconductor. Microsoft believes that its topoconductor architecture could enable squeezing 1 million qubits (the basic unit of information in quantum computing) on a single chip. This could pave the way for large-scale quantum computers that can be used in a wide variety of applications.
A Wall Street darling
Microsoft's share price has more than doubled over the last three years. Its stock is up over 20% in 2025. Wall Street thinks there's more room to run.
The consensus 12-month price target for Microsoft reflects an upside potential of roughly 19%. Several analysts with the most recent updates are even more bullish. For example, Morgan Stanley (NYSE: MS) projects that Microsoft's stock will climb 21%. Stifel's (NYSE: SF) price target is more than 25% above Microsoft's current share price.
What's especially impressive to me is how widespread the positive sentiment about Microsoft is on Wall Street. Of the 58 analysts surveyed by S&P Global (NYSE: SPGI) in October, 13 rated the stock as a "strong buy." Another 44 analysts rated Microsoft as a "buy." The sole outlier recommending holding the stock.
It's not surprising that Wall Street likes large-cap AI stocks right now. However, the enthusiasm over Microsoft is remarkable.
Smart money, not free money
I agree with the vast majority of analysts that buying Microsoft is a smart money move right now. The company's growth prospects remain strong, in my view. But investing in Microsoft is emphatically not free money. Why? Two reasons especially stand out.
First, AI infrastructure spending could slow down. Much of Microsoft's surging revenue and profits has been a direct result of customers investing heavily in developing AI applications on Azure. However, some warn that we're in an AI bubble. That list includes OpenAI CEO Sam Altman and Amazon (NASDAQ: AMZN) founder Jeff Bezos.
Second, Microsoft's valuation is admittedly steep. The stock's forward price-to-earnings ratio is over 33. Any hiccup in growth could cause Microsoft's shares to tumble at that premium multiple.
Investing in stocks (or anything else, for that matter) always comes with risks. The question that investors must determine is whether or not the potential rewards make those risks worth taking. In Microsoft's case, I think the answer is a resounding "yes."
Should you invest $1,000 in Microsoft right now?
Before you buy stock in Microsoft, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Microsoft wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $621,976!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,150,085!*
Now, it’s worth noting Stock Advisor’s total average return is 1,058% — a market-crushing outperformance compared to 191% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of September 29, 2025
Keith Speights has positions in Amazon and Microsoft. The Motley Fool has positions in and recommends Amazon, Microsoft, Nvidia, and S&P Global. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.