Brian Rogers, CIO and Chairman of T. Rowe Price, manages the firm's $20 billion Equity Income Fund. His fund was down 35% in 2008, after years of outperformance. But he bought more during the fourth quarter. These are his buys and sells.
Brian Rogers buys Deere & Company, INBEV SA ORD SHS, Tiffany & Co., Marriott International Inc., , Eaton Corp., Cisco Systems Inc., CONSOL Energy Inc., Marshall & Ilsley Corp., Weyerhaeuser Company, NRG Energy Inc., Janus Capital Group Inc., The Estee Lauder Companies Inc., sells The Procter & Gamble Company, Abbott Laboratories, General Mills Inc., Motorola Inc., Southwest Airlines Co., Ford Motor Company, American International Group Inc., Eastman Kodak Company, ROYAL BANK ADS, National City Corp. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, T Rowe Price Equity Income Fund. Brian Rogers owns 124 stocks with a total value of $13.5 billion. These are the details of the buys and sells.
New Purchases: CNX, CSCO, DE, EL, ETN, JNS, MAR, MI, NRG, TIF, VDFOF.PK, WY,
Added Positions: AXP, BA, BDK, BP, CVC, CVX, FO, GE, GS, HIG, LNC, M, MUR, NUE, RDS-A, SLB, TEL, WHR, WPPGY,
Reduced Positions:ALU, AMGN, BJS, CBS, CL, DHI, FE, FNM, GCI, HRB, LLY, LM, WFMI,
Sold Out: ABT, AIG, EK, F, GIS, LUV, MOT, NCC, PG, RBS,
For the details of Brian Rogers's stock buys and sells, go to the Link Here
Added: Goldman Sachs Group Inc. The (GS, Financial) Brian Rogers added to his holdings in Goldman Sachs Group Inc. The by 125%. His purchase prices were between $53.31 and $113.95, with an estimated average price of $80.6. The impact to his portfolio due to this purchase was 0.47%. His holdings were 1,350,000 shares as of 12/31/2008.
Goldman Sachs is a global investment banking and securities firm providing a full range of investing advisory and financing services worldwide to a substantial and diversified client base which includes corporations financial institutions governments and high net worth individuals. (Company Press Release) Goldman Sachs Group Inc. The has a market cap of $33.19 billion; its shares were traded at around $59.2 with a P/E ratio of 14.6 and P/S ratio of 0.62. The dividend yield of Goldman Sachs Group Inc. The stocks is 1.67%. Goldman Sachs Group Inc. The had an annual average earning growth of 24.5% over the past 10 years.
Added: Nucor Corp. (NUE, Financial) Brian Rogers added to his holdings in Nucor Corp. by 60%. His purchase prices were between $28.06 and $44.98, with an estimated average price of $36.4. The impact to his portfolio due to this purchase was 0.46%. His holdings were 3,600,000 shares as of 12/31/2008.
Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles rounds flats channels sheet wide-flange beams pilings billets blooms and beam blanks) cold-rolled steel cold finished steel steel joists and joist girders steeldeck steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products with operating facilities in fourteen states. Nucor Corp. has a market cap of $13.73 billion; its shares were traded at around $40.05 with a P/E ratio of 6 and P/S ratio of 0.83. The dividend yield of Nucor Corp. stocks is 3.2%. Nucor Corp. had an annual average earning growth of 26.2% over the past 10 years.
Added: The Boeing Company (BA, Financial) Brian Rogers added to his holdings in The Boeing Company by 71.43%. His purchase prices were between $39.2 and $52.03, with an estimated average price of $42.7. The impact to his portfolio due to this purchase was 0.4%. His holdings were 3,000,000 shares as of 12/31/2008.
The Boeing Company is one of the world's major aerospace firms. The company operates in three principal segments: commercial airplanes; military aircraft and missiles; and space and communications. The Boeing Company has a market cap of $31.33 billion; its shares were traded at around $40.36 with a P/E ratio of 8.3 and P/S ratio of 0.47. The dividend yield of The Boeing Company stocks is 3.6%. The Boeing Company had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated The Boeing Company the business predictability rank of 2.5-star.
Added: Murphy Oil Corp. (MUR, Financial) Brian Rogers added to his holdings in Murphy Oil Corp. by 44%. His purchase prices were between $39 and $50.37, with an estimated average price of $44.5. The impact to his portfolio due to this purchase was 0.36%. His holdings were 3,600,000 shares as of 12/31/2008.
Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom and crude oil transportation and trading operations in Canada. Murphy Oil Corp. has a market cap of $9.07 billion; its shares were traded at around $43 with a P/E ratio of 4.8 and P/S ratio of 0.49. The dividend yield of Murphy Oil Corp. stocks is 2.1%. Murphy Oil Corp. had an annual average earning growth of 18.4% over the past 10 years. GuruFocus rated Murphy Oil Corp. the business predictability rank of 3.5-star.
Added: Schlumberger Ltd. (SLB, Financial) Brian Rogers added to his holdings in Schlumberger Ltd. by 111.11%. His purchase prices were between $39.08 and $60.25, with an estimated average price of $47. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,900,000 shares as of 12/31/2008.
Schlumberger Limited is a global technology services company consisting of two business segments Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis. Schlumberger Ltd. has a market cap of $51.44 billion; its shares were traded at around $36.83 with a P/E ratio of 8.6 and P/S ratio of 2.21. The dividend yield of Schlumberger Ltd. stocks is 1.95%. Schlumberger Ltd. had an annual average earning growth of 58.5% over the past 5 years.
Added: Fortune Brands Inc. (FO, Financial) Brian Rogers added to his holdings in Fortune Brands Inc. by 28.57%. His purchase prices were between $32.83 and $40.5, with an estimated average price of $37.8. The impact to his portfolio due to this purchase was 0.31%. His holdings were 4,500,000 shares as of 12/31/2008.
Fortune Brands is a holding company with subsidiaries engaged in themanufacture and sale of home products (plumbing accessories security devices and tool storage products) office products (stapling equipment computer accessories and supplies) golf products and spirits and wine. The company is recently involved in a strategy of seeking to enhance the operations of its principal operating companies. Fortune Brands Inc. has a market cap of $6.06 billion; its shares were traded at around $38.18 with a P/E ratio of 8.5 and P/S ratio of 0.71. The dividend yield of Fortune Brands Inc. stocks is 4.35%. Fortune Brands Inc. had an annual average earning growth of 11.5% over the past 10 years. GuruFocus rated Fortune Brands Inc. the business predictability rank of 5-star.
Added: General Electric Company (GE, Financial) Brian Rogers added to his holdings in General Electric Company by 10.87%. His purchase prices were between $13.77 and $21.09, with an estimated average price of $17.4. The impact to his portfolio due to this purchase was 0.3%. His holdings were 25,500,000 shares as of 12/31/2008.
General Electric is one of the largest and most diversified industrial corporations in the world. GE is engaged in developing manufacturing and marketing a wide variety of products for the generation transmission distribution control and utilization of electricity. Some of GE's products include major appliances; lighting products; industrial automation products; medical diagnostic imaging equipment; motors; electrical distribution and control equipment; locomotives; power generation and delivery products. General Electric Company has a market cap of $159.29 billion; its shares were traded at around $12.93 with a P/E ratio of 7 and P/S ratio of 0.92. The dividend yield of General Electric Company stocks is 7.75%. General Electric Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 3.5-star.
Added: Royal Dutch Shell plc (RDS-A) Brian Rogers added to his holdings in Royal Dutch Shell plc by 15.6%. His purchase prices were between $44.1 and $55.06, with an estimated average price of $50.1. The impact to his portfolio due to this purchase was 0.3%. His holdings were 5,750,000 shares as of 12/31/2008.
Royal Dutch Petroleum Company owns 60% of the Royal Dutch/Shell Group of companies. These companies are involved in all phases of the petroleum industry from exploration to final processing and delivery. Royal Dutch Petroleum Company has not operations of its own and virtually the whole of its income is derived from its 60% interest. Royal Dutch Shell plc has a market cap of $165.54 billion; its shares were traded at around $47.44 with a P/E ratio of 5.7 and P/S ratio of 0.47. The dividend yield of Royal Dutch Shell plc stocks is 5.04%. Royal Dutch Shell plc had an annual average earning growth of 14.6% over the past 10 years. GuruFocus rated Royal Dutch Shell plc the business predictability rank of 2.5-star.
Added: BP p.l.c. (BP, Financial) Brian Rogers added to his holdings in BP p.l.c. by 25%. His purchase prices were between $39.83 and $48.81, with an estimated average price of $44.9. The impact to his portfolio due to this purchase was 0.26%. His holdings were 3,750,000 shares as of 12/31/2008.
BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Their main activities are exploration and production of crude oil and natural gas; refining marketing supply and transportation; and manufacturing and marketing of petrochemicals. They have a growing activity in gas and power and in solar power generation. BP has well-established operations in Europe North and South America Australasia and Africa. BP p.l.c. has a market cap of $164.81 billion; its shares were traded at around $41.27 with a P/E ratio of 4.5 and P/S ratio of 0.57. The dividend yield of BP p.l.c. stocks is 7.01%. BP p.l.c. had an annual average earning growth of 17.8% over the past 10 years. GuruFocus rated BP p.l.c. the business predictability rank of 2-star.
Added: American Express Company (AXP, Financial) Brian Rogers added to his holdings in American Express Company by 38.89%. His purchase prices were between $17.76 and $27.27, with an estimated average price of $21.9. The impact to his portfolio due to this purchase was 0.24%. His holdings were 6,250,000 shares as of 12/31/2008.
American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $22.3 billion; its shares were traded at around $15.6 with a P/E ratio of 6.1 and P/S ratio of 0.8. The dividend yield of American Express Company stocks is 3.74%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Added: Tyco Electronics Ltd. (TEL, Financial) Brian Rogers added to his holdings in Tyco Electronics Ltd. by 105.41%. His purchase prices were between $14.36 and $20.18, with an estimated average price of $16.9. The impact to his portfolio due to this purchase was 0.17%. His holdings were 2,750,000 shares as of 12/31/2008.
Tyco Electronics Ltd. global provider of engineered electronic components for thousands of consumer and industrial products; network solutions and systems for telecommunications and energy markets; and wireless systems for critical communications radar and defense applications. They design manufacture and market products for customers in industries ranging from automotive appliance aerospace and defense to telecommunications computers and consumer electronics. Tyco Electronics Ltd. has a market cap of $7.74 billion; its shares were traded at around $15.07 with a P/E ratio of 6 and P/S ratio of 0.52. The dividend yield of Tyco Electronics Ltd. stocks is 3.78%.
Added: Chevron Corp. (CVX, Financial) Brian Rogers added to his holdings in Chevron Corp. by 4.35%. His purchase prices were between $57.33 and $79.01, with an estimated average price of $70.5. The impact to his portfolio due to this purchase was 0.14%. His holdings were 6,000,000 shares as of 12/31/2008.
Chevron is the fifth-largest integrated energy company in the world. Headquartered in San Ramon California and conducting business in approximately 180 countries this highly competitive corporation is engaged in every aspect of the oil and natural gas industry including exploration and production; refining marketing and transportation; chemicals manufacturing and sales; and power generation. Chevron Corp. has a market cap of $147.96 billion; its shares were traded at around $68.31 with a P/E ratio of 6 and P/S ratio of 0.67. The dividend yield of Chevron Corp. stocks is 3.57%. Chevron Corp. had an annual average earning growth of 14.5% over the past 10 years. GuruFocus rated Chevron Corp. the business predictability rank of 3.5-star.
Added: Cablevision Systems Corp. NY Group (CVC, Financial) Brian Rogers added to his holdings in Cablevision Systems Corp. NY Group by 28.57%. His purchase prices were between $12.25 and $17.87, with an estimated average price of $15. The impact to his portfolio due to this purchase was 0.12%. His holdings were 4,500,000 shares as of 12/31/2008.
Cablevision Systems Corp. is one of the nation's leading entertainment and telecommunications companies. Its cable television operations serve households located primarily in the New York metropolitan area. The company's advanced telecommunications offerings include its Lightpath integrated business communications services and its Optimum-branded high-speed Internet service. (Company Press Release) Cablevision Systems Corp. NY Group has a market cap of $5.43 billion; its shares were traded at around $16.31 with a P/E ratio of 139.5 and P/S ratio of 0.84. The dividend yield of Cablevision Systems Corp. NY Group stocks is 2.19%.
Added: Whirlpool Corp. (WHR) Brian Rogers added to his holdings in Whirlpool Corp. by 19.05%. His purchase prices were between $31.97 and $66.2, with an estimated average price of $45.3. The impact to his portfolio due to this purchase was 0.12%. His holdings were 2,500,000 shares as of 12/31/2008.
Whirlpool Corp. manufactures and markets a full line of major appliances and related products primarily for home use. The company's principal products are home laundry appliances home refrigerators and freezers home cooking appliances home dishwashers room air-conditioning equipment and mixers and other small household appliances. The company also produces hermetic compressors and plastic components primarilyfor the home appliance and electronics industries. Whirlpool Corp. has a market cap of $3.27 billion; its shares were traded at around $35.82 with a P/E ratio of 5.5 and P/S ratio of 0.17. The dividend yield of Whirlpool Corp. stocks is 3.87%. Whirlpool Corp. had an annual average earning growth of 5.7% over the past 10 years. GuruFocus rated Whirlpool Corp. the business predictability rank of 2.5-star.
Added: Lincoln National Corp. (LNC) Brian Rogers added to his holdings in Lincoln National Corp. by 16.88%. His purchase prices were between $6.31 and $23.75, with an estimated average price of $17.4. The impact to his portfolio due to this purchase was 0.09%. His holdings were 4,500,000 shares as of 12/31/2008.
Lincoln National Corp. is a holding company. Through subsidiary companies the company operates multiple insurance and investment management businesses. Operations are divided into four business segments: Life Insurance and Annuities; Lincoln UK; Reinsurance and; Investment Management. Lincoln National Corp. has a market cap of $5.14 billion; its shares were traded at around $14.68 with a P/E ratio of 3.2 and P/S ratio of 0.49. The dividend yield of Lincoln National Corp. stocks is 4.18%. Lincoln National Corp. had an annual average earning growth of 17.5% over the past 10 years.
Added: Macy's Inc. (M) Brian Rogers added to his holdings in Macy's Inc. by 40%. His purchase prices were between $5.64 and $12.11, with an estimated average price of $9. The impact to his portfolio due to this purchase was 0.08%. His holdings were 3,500,000 shares as of 12/31/2008.
Federated Department Stores through its subsidiaries is one of the leading operators of full-line department stores in the United States. The Company's subsidiaries operate department stores under the names Bloomingdale's The Bon Marche Burdines Goldsmith's Lazarus Macy's Rich's and Stern's. These department stores sell a wide range of merchandise including men's women's and children's apparel and accessories cosmetics home furnishings and other consumer goods. Macy's Inc. has a market cap of $4.33 billion; its shares were traded at around $8.73 with a P/E ratio of 4.9 and P/S ratio of 0.16. The dividend yield of Macy's Inc. stocks is 5.15%. Macy's Inc. had an annual average earning growth of 2.6% over the past 10 years. GuruFocus rated Macy's Inc. the business predictability rank of 2-star.
Added: Black & Decker Corp. The (BDK) Brian Rogers added to his holdings in Black & Decker Corp. The by 25%. His purchase prices were between $35.19 and $51.54, with an estimated average price of $44.3. The impact to his portfolio due to this purchase was 0.08%. His holdings were 1,250,000 shares as of 12/31/2008.
The Black & Decker Corporation is a global marketer and manufacturer of quality products used in and around the home and for commercial applications. The Corporation is one of the world's leading producers of power tools power tool accessories and residential security hardware and the Corporation's product lines hold leading market share positions in these industries. They are a major global supplier of engineered fastening and assembly systems. They are also one of the leading producers of faucets in North America. Black & Decker Corp. The has a market cap of $2.53 billion; its shares were traded at around $37.46 with a P/E ratio of 7.3 and P/S ratio of 0.38. The dividend yield of Black & Decker Corp. The stocks is 4%. Black & Decker Corp. The had an annual average earning growth of 7.7% over the past 10 years.
Added: WPP Group plc (WPPGY) Brian Rogers added to his holdings in WPP Group plc by 41.67%. His purchase prices were between $24.18 and $33.19, with an estimated average price of $28.3. The impact to his portfolio due to this purchase was 0.05%. His holdings were 4,250,000 shares as of 12/31/2008.
WPP Group plc is an advertising company. The Company provides public relations media advertising strategic market services market research and sales promotion audio visual and identity and design advertising that is in a non-media format. WPP Group provides its advertising services worldwide. WPP Group plc has a market cap of $7.19 billion; its shares were traded at around $26.79 with and P/S ratio of 0.58. The dividend yield of WPP Group plc stocks is 4.19%. WPP Group plc had an annual average earning growth of 11.7% over the past 10 years.
Added: The Hartford Financial Services Group In (HIG) Brian Rogers added to his holdings in The Hartford Financial Services Group In by 100%. His purchase prices were between $4.72 and $27.39, with an estimated average price of $15. The impact to his portfolio due to this purchase was 0.03%. His holdings were 500,000 shares as of 12/31/2008.
Hartford Financial Services is one of the nation's largest investment and insurance companies offers a complete line of insurance and financial service products to customers all over the world. The company is a provider of automobile and homeowners coverages; commercial property and casualty insurance; reinsurance; and a variety of life insurance investment products employee benefits group retirement plans and institutional liability funding products. The Hartford Financial Services Group In has a market cap of $5.46 billion; its shares were traded at around $11.51 with a P/E ratio of 2.5 and P/S ratio of 0.21. The dividend yield of The Hartford Financial Services Group In stocks is 7.05%. The Hartford Financial Services Group In had an annual average earning growth of 7.2% over the past 10 years.
New Purchase: Deere & Company (DE) Brian Rogers initiated holdings in Deere & Company. His purchase prices were between $30.14 and $39.13, with an estimated average price of $35.6. The impact to his portfolio due to this purchase was 0.85%. His holdings were 3,000,000 shares as of 12/31/2008.
Deere & Company is the one world's foremost producers of agricultural equipment as well as a leading manufacturer of construction forestry and commercial and consumer equipment. The company in addition provides credit special technology and managed health-care products and services. (Company Press Release) Deere & Company has a market cap of $19.42 billion; its shares were traded at around $37.29 with a P/E ratio of 9.2 and P/S ratio of 0.68. The dividend yield of Deere & Company stocks is 2.44%. Deere & Company had an annual average earning growth of 11% over the past 10 years.
New Purchase: Tiffany & Co. (TIF) Brian Rogers initiated holdings in Tiffany & Co.. His purchase prices were between $19.35 and $28.57, with an estimated average price of $23.4. The impact to his portfolio due to this purchase was 0.48%. His holdings were 2,750,000 shares as of 12/31/2008.
Tiffany & Co. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas Asia-Pacific and Europe and engages in direct selling through Internet catalog and business gift operations. Other operations include consolidated results from ventures operated under trademarks or tradenames other than TIFFANY & CO. Tiffany & Co. has a market cap of $2.76 billion; its shares were traded at around $21.3 with a P/E ratio of 7.6 and P/S ratio of 0.94. The dividend yield of Tiffany & Co. stocks is 3.04%. Tiffany & Co. had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated Tiffany & Co. the business predictability rank of 4-star.
New Purchase: Marriott International Inc. (MAR) Brian Rogers initiated holdings in Marriott International Inc.. His purchase prices were between $12.84 and $20.75, with an estimated average price of $17.5. The impact to his portfolio due to this purchase was 0.47%. His holdings were 3,250,000 shares as of 12/31/2008.
Marriott International Inc. operates and franchises hotels under the Marriott JW Marriott The Ritz-Carlton Renaissance Residence Inn Courtyard TownePlace Suites Fairfield Inn SpringHill Suites and Ramada International brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International Horizons The Ritz-Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. Marriott International Inc. has a market cap of $6.85 billion; its shares were traded at around $16.76 with a P/E ratio of 10.2 and P/S ratio of 0.53. The dividend yield of Marriott International Inc. stocks is 1.78%. Marriott International Inc. had an annual average earning growth of 5.9% over the past 10 years.
New Purchase: (VDFOF.PK) Brian Rogers initiated holdings in . The impact to his portfolio due to this purchase was 0.4%. His holdings were 27,000,000 shares as of 12/31/2008.
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New Purchase: Eaton Corp. (ETN) Brian Rogers initiated holdings in Eaton Corp.. His purchase prices were between $41.15 and $47.46, with an estimated average price of $44.2. The impact to his portfolio due to this purchase was 0.37%. His holdings were 1,000,000 shares as of 12/31/2008.
Eaton Corporation is a global diversified industrial manufacturer. Eaton is one of the leaders in fluid power systems electrical power quality and controls automotive air management and fuel economy and intelligent truck components for fuel economy and safety. Eaton Corp. has a market cap of $8.27 billion; its shares were traded at around $47 with a P/E ratio of 6.4 and P/S ratio of 0.63. The dividend yield of Eaton Corp. stocks is 3.99%. Eaton Corp. had an annual average earning growth of 7.4% over the past 10 years.
New Purchase: Cisco Systems Inc. (CSCO) Brian Rogers initiated holdings in Cisco Systems Inc.. His purchase prices were between $15.17 and $17.91, with an estimated average price of $16.7. The impact to his portfolio due to this purchase was 0.33%. His holdings were 2,750,000 shares as of 12/31/2008.
Cisco Systems Inc. is the worldwide leader in networking for the Internet. Cisco's Internet Protocol-based networking solutions are the foundation of the Internet and most corporate education and government networks around the world. Cisco provides the broadest line of solutions for transporting data voice and video within buildings across campuses or around the world. Cisco Systems Inc. has a market cap of $97.78 billion; its shares were traded at around $15.01 with a P/E ratio of 11.2 and P/S ratio of 2.48. Cisco Systems Inc. had an annual average earning growth of 17.1% over the past 10 years.
New Purchase: CONSOL Energy Inc. (CNX) Brian Rogers initiated holdings in CONSOL Energy Inc.. His purchase prices were between $20.8 and $34.11, with an estimated average price of $28. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,500,000 shares as of 12/31/2008.
CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States and the largest exporter of U.S. coal. CONSOL Energy Inc. has a market cap of $5.75 billion; its shares were traded at around $24.58 with a P/E ratio of 18 and P/S ratio of 1.53. The dividend yield of CONSOL Energy Inc. stocks is 1.26%. CONSOL Energy Inc. had an annual average earning growth of 28.5% over the past 5 years.
New Purchase: Marshall & Ilsley Corp. (MI) Brian Rogers initiated holdings in Marshall & Ilsley Corp.. His purchase prices were between $11.85 and $19.21, with an estimated average price of $14.8. The impact to his portfolio due to this purchase was 0.3%. His holdings were 3,000,000 shares as of 12/31/2008.
Marshall & Ilsley Corp. is a diversified financial services corporation. The company has a large retail banking presence in Wisconsin with offices throughout the state. In addition M&I retail locations are located in Phoenix and Tucson Ariz.; Las Vegas Nev. and Naples Fla. M&I also provides trust and investment management equipment leasing data processing mortgage banking financial planning investments and insurance services from offices throughout the country and on the Internet. (Company Press Release) Marshall & Ilsley Corp. has a market cap of $2.96 billion; its shares were traded at around $6 with and P/S ratio of 1.25. The dividend yield of Marshall & Ilsley Corp. stocks is 11.26%. Marshall & Ilsley Corp. had an annual average earning growth of 8.7% over the past 10 years. GuruFocus rated Marshall & Ilsley Corp. the business predictability rank of 4.5-star.
New Purchase: Weyerhaeuser Company (WY) Brian Rogers initiated holdings in Weyerhaeuser Company. His purchase prices were between $30.11 and $46.18, with an estimated average price of $35.4. The impact to his portfolio due to this purchase was 0.28%. His holdings were 1,250,000 shares as of 12/31/2008.
Weyerhaeuser Company is principally engaged in the growing and harvesting of timber and the manufacture distribution and sale of forest products real estate development and construction and other real estate relatedactivities. Its business segments are timberlands; wood products;pulp paper and packaging; and real estate and related assets. Weyerhaeuser Company has a market cap of $6.55 billion; its shares were traded at around $26.66 with a P/E ratio of 140.6 and P/S ratio of 0.4. The dividend yield of Weyerhaeuser Company stocks is 7.75%. Weyerhaeuser Company had an annual average earning growth of 4.6% over the past 10 years.
New Purchase: NRG Energy Inc. (NRG) Brian Rogers initiated holdings in NRG Energy Inc.. His purchase prices were between $15.17 and $23.86, with an estimated average price of $21.5. The impact to his portfolio due to this purchase was 0.17%. His holdings were 1,000,000 shares as of 12/31/2008.
NRG Energy Inc owns and operates a diverse portfolio of power-generating facilities primarily in the United States. Its operations include baseload intermediate peaking and cogeneration facilities thermal energy production and energy resource recovery facilities. NRG Energy Inc. has a market cap of $5.52 billion; its shares were traded at around $22.4 with a P/E ratio of 11.8 and P/S ratio of 0.92. NRG Energy Inc. had an annual average earning growth of 25.9% over the past 5 years.
New Purchase: Janus Capital Group Inc. (JNS) Brian Rogers initiated holdings in Janus Capital Group Inc.. His purchase prices were between $6.45 and $12.34, with an estimated average price of $8.9. The impact to his portfolio due to this purchase was 0.16%. His holdings were 2,624,400 shares as of 12/31/2008.
Janus Capital Group Inc. is a leading asset manager offering individual investors and institutional clients complementary asset management disciplines through the firm's global distribution network. Janus Capital Group consists of Janus Capital Management LLC Berger Financial Group LLC Enhanced Investment Technologies LLC and Bay Isle Financial LLC. Janus Capital Group Inc. has a market cap of $1.37 billion; its shares were traded at around $5.62 with a P/E ratio of 6.4 and P/S ratio of 1.17. The dividend yield of Janus Capital Group Inc. stocks is 0.46%. Janus Capital Group Inc. had an annual average earning growth of 8.4% over the past 5 years.
New Purchase: The Estee Lauder Companies Inc. (EL) Brian Rogers initiated holdings in The Estee Lauder Companies Inc.. His purchase prices were between $25.13 and $38.94, with an estimated average price of $31.2. The impact to his portfolio due to this purchase was 0.06%. His holdings were 250,000 shares as of 12/31/2008.
Estee Lauder Co. is one of the world's leading manufacturers and marketers of quality skin care makeup fragrance and hair care products. Its products are sold in numerous countries and territories under the following well-recognized brand names: Estee Lauder Clinique Aramis Prescriptives Origins M.A.C Bobbi Brown essentials La Mer jane Aveda Stila Jo Malone and Bumble and bumble. The company is also the global licensee for fragrances and cosmetics sold under the TommyHilfiger Donna Karan and Kate Spade brands. The Estee Lauder Companies Inc. has a market cap of $6 billion; its shares were traded at around $26.12 with a P/E ratio of 12.4 and P/S ratio of 0.76. The dividend yield of The Estee Lauder Companies Inc. stocks is 1.8%. The Estee Lauder Companies Inc. had an annual average earning growth of 8.2% over the past 10 years. GuruFocus rated The Estee Lauder Companies Inc. the business predictability rank of 3-star.
Reduced: Fannie Mae (FNM) Brian Rogers reduced to his holdings in Fannie Mae by 74.38%. His sale prices were between $0.3 and $1.16, with an estimated average price of $0.8. The impact to his portfolio due to this sale was -0.01%. Brian Rogers still held 2,841,400 shares as of 12/31/2008.
Fannie Mae is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation's largest sources of financing for home mortgages. Fannie Mae is working to shrink the nation's homeownership gaps through an American Dream Commitment to increase homeownership rates and serve targeted American families by the end of the decade. (Company Press Release) Fannie Mae has a market cap of $796.39 million; its shares were traded at around $0.63 with and P/S ratio of 0.02. Fannie Mae had an annual average earning growth of 35.6% over the past 10 years.
Reduced: Whole Foods Market Inc. (WFMI) Brian Rogers reduced to his holdings in Whole Foods Market Inc. by 25%. His sale prices were between $8.19 and $14.83, with an estimated average price of $10.7. The impact to his portfolio due to this sale was -0.03%. Brian Rogers still held 1,500,000 shares as of 12/31/2008.
Whole Foods Market is the largest purveyor of natural foods in the world. They own and operate the country's largest chain of natural food supermarkets. They are like an old-fashioned neighborhood grocery store an organic farmer's market a European bakery a New York deli and a modern supermarket all rolled into one! The Company also offers a wide variety of non-perishable natural products on its Web site at http://wholefoods.com. Whole Foods Market Inc. has a market cap of $1.76 billion; its shares were traded at around $11.22 with a P/E ratio of 10.9 and P/S ratio of 0.22. Whole Foods Market Inc. had an annual average earning growth of 14.7% over the past 10 years. GuruFocus rated Whole Foods Market Inc. the business predictability rank of 5-star.
Reduced: AlcatelLucent (ALU) Brian Rogers reduced to his holdings in AlcatelLucent by 66.67%. His sale prices were between $1.86 and $2.71, with an estimated average price of $2.2. The impact to his portfolio due to this sale was -0.05%. Brian Rogers still held 5,000,000 shares as of 12/31/2008.
Alcatel builds next generation networks delivering integrated end-to-end voice and data communications solutions to established and new carriers as well as enterprises and consumers worldwide. The companythe world leader in ADSL1 equipment has expanded ts ADSL modem line with the launch of the Speed TouchTM IAD? offering Voice over ADSL service. Working on an existing copper telephone line ADSL's transmission speed is up to 200times faster than today's analog modems. AlcatelLucent has a market cap of $5.19 billion; its shares were traded at around $1.86 with and P/S ratio of 0.21.
Reduced: BJ Services Company (BJS) Brian Rogers reduced to his holdings in BJ Services Company by 37.17%. His sale prices were between $9.35 and $12.88, with an estimated average price of $11.2. The impact to his portfolio due to this sale was -0.08%. Brian Rogers still held 2,500,000 shares as of 12/31/2008.
BJ Services Company is a leading provider of pressure pumping and other oilfield services serving the petroleum industry worldwide. The Company's pressure pumping services consist of cementing and stimulation services used in the completion of new oil and natural gas wells and in remedial work on existing wells both onshore and offshore. BJ Services Company has a market cap of $3.53 billion; its shares were traded at around $10.39 with a P/E ratio of 5.5 and P/S ratio of 0.65. The dividend yield of BJ Services Company stocks is 1.65%. BJ Services Company had an annual average earning growth of 24.7% over the past 10 years. GuruFocus rated BJ Services Company the business predictability rank of 3-star.
Reduced: D.R. Horton Inc. (DHI) Brian Rogers reduced to his holdings in D.R. Horton Inc. by 50%. His sale prices were between $4.32 and $8.49, with an estimated average price of $6.8. The impact to his portfolio due to this sale was -0.08%. Brian Rogers still held 3,000,000 shares as of 12/31/2008.
D.R. Horton Inc. one of the largest homebuilders in the United States builds high quality single-family homes designed principally for the entry-level and move-up markets. Founded in 1978 the company builds and sells homes with a geographic presence in the Midwest Mid-Atlantic Southeast Southwest and Western regions of the United States. The company also provides mortgage financing and title services. D.R. Horton Inc. has a market cap of $2.5 billion; its shares were traded at around $6.07 with and P/S ratio of 0.38. The dividend yield of D.R. Horton Inc. stocks is 1.9%.
Reduced: Gannett Co. Inc. (GCI) Brian Rogers reduced to his holdings in Gannett Co. Inc. by 66.67%. His sale prices were between $6.03 and $12.28, with an estimated average price of $8.8. The impact to his portfolio due to this sale was -0.08%. Brian Rogers still held 2,000,000 shares as of 12/31/2008.
Gannett Co. Inc. is an international news and information company that publishes daily newspapers in the USA including USA TODAY the nation'slargest-selling daily newspaper. The company also owns in excess of 400 non-daily publications in the USA and USA WEEKEND a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company. Newsquest publishes more than 300 titles including 15 daily newspapers and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States. Gannett Co. Inc. has a market cap of $1.96 billion; its shares were traded at around $7.02 with a P/E ratio of 2.1 and P/S ratio of 0.26. The dividend yield of Gannett Co. Inc. stocks is 18.63%. Gannett Co. Inc. had an annual average earning growth of 4.9% over the past 10 years. GuruFocus rated Gannett Co. Inc. the business predictability rank of 4-star.
Reduced: CBS Corp. (CBS) Brian Rogers reduced to his holdings in CBS Corp. by 50%. His sale prices were between $4.75 and $9.26, with an estimated average price of $7.5. The impact to his portfolio due to this sale was -0.09%. Brian Rogers still held 3,000,000 shares as of 12/31/2008.
CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry as well as newer businesses that operate on the leading edge of the media industry. The Company through its many and varied operations combines broad reach with well-positioned local businesses all of which provide it with an extensive distribution network by which it serves audiences and advertisers in states and key international markets. It has operations in virtually every field of media and entertainment including broadcast television (CBS and UPN) cable television (Showtime) local television (CBS Television Stations) television production and syndication (CBS Paramount Television and King World) radio (CBS Radio) advertising on out-of-home media (CBS Outdoor) publishing (Simon & Schuster) theme parks (Paramount Parks) digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). CBS Corp. has a market cap of $5.71 billion; its shares were traded at around $6.48 with a P/E ratio of 4.1 and P/S ratio of 0.41. The dividend yield of CBS Corp. stocks is 12.86%.
Reduced: ColgatePalmolive Company (CL) Brian Rogers reduced to his holdings in ColgatePalmolive Company by 75%. His sale prices were between $55.94 and $68.1, with an estimated average price of $62.4. The impact to his portfolio due to this sale was -0.1%. Brian Rogers still held 250,000 shares as of 12/31/2008.
Colgate-Palmolive is a leading global consumer products company tightly focused on Oral Care Personal Care Household Surface Care Fabric Care and Pet Nutrition. Colgate sells its products in countries and territories around the world under such internationally recognized brand names as Colgate Palmolive Mennen Softsoap Irish Spring Protex Sorriso Kolynos Ajax Axion Soupline Suavitel and Fab as well as Hill's Science Diet and Hill's Prescription Diet pet foods. (Company Press Release) ColgatePalmolive Company has a market cap of $32.76 billion; its shares were traded at around $62.56 with a P/E ratio of 16.9 and P/S ratio of 2.38. The dividend yield of ColgatePalmolive Company stocks is 2.47%. ColgatePalmolive Company had an annual average earning growth of 8.5% over the past 10 years. GuruFocus rated ColgatePalmolive Company the business predictability rank of 3.5-star.
Reduced: Legg Mason Inc. (LM) Brian Rogers reduced to his holdings in Legg Mason Inc. by 69.23%. His sale prices were between $13.84 and $21.9, with an estimated average price of $18.5. The impact to his portfolio due to this sale was -0.11%. Brian Rogers still held 1,000,000 shares as of 12/31/2008.
Legg Mason Inc. is a holding company which through its subsidiaries isprincipally engaged in providing asset management securities brokerageinvestment banking and related financial services to individualsinstitutions corporations and municipalities. Legg Mason Inc. has a market cap of $3.29 billion; its shares were traded at around $17.34 with and P/S ratio of 0.71. The dividend yield of Legg Mason Inc. stocks is 4.11%. Legg Mason Inc. had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated Legg Mason Inc. the business predictability rank of 4.5-star.
Reduced: FirstEnergy Corp. (FE) Brian Rogers reduced to his holdings in FirstEnergy Corp. by 34.21%. His sale prices were between $45.01 and $58.58, with an estimated average price of $51.9. The impact to his portfolio due to this sale was -0.15%. Brian Rogers still held 1,250,000 shares as of 12/31/2008.
FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. FirstEnergy companies provide electricity and natural gas services and a wide array of energy-related products and services. FirstEnergy's four electric utility companies Ohio Edison and its Pennsylvania Power subsidiary The Illuminating Company and Toledo Edison serve customers in northern and central Ohio and western Pennsylvania. (Company Press Release) FirstEnergy Corp. has a market cap of $14.91 billion; its shares were traded at around $49.09 with a P/E ratio of 11.3 and P/S ratio of 1.16. The dividend yield of FirstEnergy Corp. stocks is 4.5%. FirstEnergy Corp. had an annual average earning growth of 4.4% over the past 10 years.
Reduced: H&R Block Inc. (HRB) Brian Rogers reduced to his holdings in H&R Block Inc. by 40.74%. His sale prices were between $15.4 and $22.07, with an estimated average price of $19. The impact to his portfolio due to this sale was -0.27%. Brian Rogers still held 4,000,000 shares as of 12/31/2008.
H&R Block Inc. is a diversified company involved in tax return preparationelectronic filing of income tax returns and other tax-related services. The Company's subsidiaries also offer investment services through broker-dealers originate purchase service sell and securitize mortgages offer personal productivity software purchase participation interests in refund anticipation loans made by a third-party lender and offer accounting tax and consulting services to business clients. H&R Block Inc. has a market cap of $7.2 billion; its shares were traded at around $20.02 with a P/E ratio of 14.7 and P/S ratio of 1.63. The dividend yield of H&R Block Inc. stocks is 2.82%. H&R Block Inc. had an annual average earning growth of 0.9% over the past 10 years.
Reduced: Eli Lilly and Company (LLY) Brian Rogers reduced to his holdings in Eli Lilly and Company by 30.07%. His sale prices were between $30.43 and $38.26, with an estimated average price of $33.8. The impact to his portfolio due to this sale was -0.36%. Brian Rogers still held 4,000,000 shares as of 12/31/2008.
Eli Lilly and Company discovers develops manufactures and sells products in one significant business segment -pharmaceutical products. The company directs its research efforts primarily toward the search for products to diagnose prevent and treat human diseases. The company also conducts research to find products to treat diseases in animals and to increase the efficiency of animal food production. Eli Lilly and Company has a market cap of $43.75 billion; its shares were traded at around $37.39 with a P/E ratio of 9.8 and P/S ratio of 2.35. The dividend yield of Eli Lilly and Company stocks is 4.89%. Eli Lilly and Company had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Eli Lilly and Company the business predictability rank of 4.5-star.
Reduced: Amgen Inc. (AMGN) Brian Rogers reduced to his holdings in Amgen Inc. by 37.5%. His sale prices were between $48.58 and $59.89, with an estimated average price of $56.2. The impact to his portfolio due to this sale was -0.4%. Brian Rogers still held 2,500,000 shares as of 12/31/2008.
Amgen Inc. discovers develops and delivers innovative human therapeutics. A biotechnology pioneer Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine helping millions of people around the world in the fight against cancer kidney disease rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines Amgen remains committed to advancing science to dramatically improve people's lives. Amgen Inc. has a market cap of $61.22 billion; its shares were traded at around $55 with a P/E ratio of 12.5 and P/S ratio of 4.14. Amgen Inc. had an annual average earning growth of 19.2% over the past 10 years. GuruFocus rated Amgen Inc. the business predictability rank of 4-star.
Sold Out: American International Group Inc. (AIG) Brian Rogers sold out his holdings in American International Group Inc.. His sale prices were between $1.57 and $2.33, with an estimated average price of $1.9. The impact to his portfolio due to this sale was less than 0.01%.
American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $4.36 billion; its shares were traded at around $1.37 with and P/S ratio of 0.04. American International Group Inc. had an annual average earning growth of 11.4% over the past 10 years.
Sold Out: ROYAL BANK ADS (RBS) Brian Rogers sold out his holdings in ROYAL BANK ADS. His sale prices were between $12.7 and $29, with an estimated average price of $18.7. The impact to his portfolio due to this sale was less than 0.01%.
The Royal Bank of Scotland Group plc is the holding company of one of the world?s largest banking and financial services groups with a market capitalisation of ?62.8 billion at the end of 2006. Headquartered in Edinburgh the Group operates in the UK US and internationally through its two principal subsidiaries the Royal Bank and NatWest. Both the Royal Bank and NatWest are major UK clearing banks whose origins go back over 275 years. In the US the Group?s subsidiary Citizens is ranked the eighth largest commercial banking organisation by deposits. The Group has a large and diversified customer base and provides a wide range of products and services to personal commercial and large corporate and institutional customers. ROYAL BANK ADS has a market cap of $829.8 million; its shares were traded at around $3.33 with and P/S ratio of 0.01. The dividend yield of ROYAL BANK ADS stocks is 134.4%.
Sold Out: The Procter & Gamble Company (PG) Brian Rogers sold out his holdings in The Procter & Gamble Company. His sale prices were between $58.87 and $64.54, with an estimated average price of $61.8. The impact to his portfolio due to this sale was less than 0.01%.
The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Products fall into five business segments: fabric and home care paper beauty care health care and food and beverage. Today P&G markets more than 250 products to more than five billion consumers in 130 countries. The Procter & Gamble Company has a market cap of $178.72 billion; its shares were traded at around $57.43 with a P/E ratio of 16.4 and P/S ratio of 2.14. The dividend yield of The Procter & Gamble Company stocks is 2.67%. The Procter & Gamble Company had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated The Procter & Gamble Company the business predictability rank of 3-star.
Sold Out: Abbott Laboratories (ABT) Brian Rogers sold out his holdings in Abbott Laboratories. His sale prices were between $49.09 and $55.06, with an estimated average price of $52.7. The impact to his portfolio due to this sale was less than 0.01%.
Abbott Laboratories is a global broad-based health care company devoted to discovering new medicines new technologies and new ways to manage health. Abbott products span the continuum of care from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Abbott Laboratories has a market cap of $79.39 billion; its shares were traded at around $49.2 with a P/E ratio of 15.8 and P/S ratio of 3.06. The dividend yield of Abbott Laboratories stocks is 2.81%. Abbott Laboratories had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 5-star.
Sold Out: General Mills Inc. (GIS) Brian Rogers sold out his holdings in General Mills Inc.. His sale prices were between $57.69 and $67.24, with an estimated average price of $62.7. The impact to his portfolio due to this sale was less than 0.01%.
General Mills Inc. is one of the leading producers of packaged consumer foods and markets its products primarily through its own sales organizations supported by advertising and other promotional activities. Such products are primarily distributed directly to retail food chains cooperatives membership stores and wholesalers. General Mills Inc. has a market cap of $19.42 billion; its shares were traded at around $59.79 with a P/E ratio of 14.6 and P/S ratio of 1.42. The dividend yield of General Mills Inc. stocks is 2.96%. General Mills Inc. had an annual average earning growth of 7.2% over the past 10 years. GuruFocus rated General Mills Inc. the business predictability rank of 4-star.
Sold Out: Eastman Kodak Company (EK) Brian Rogers sold out his holdings in Eastman Kodak Company. His sale prices were between $6.08 and $12.27, with an estimated average price of $8.4. The impact to his portfolio due to this sale was less than 0.01%.
Eastman Kodak Company is engaged primarily in developing manufacturing and marketing consumer professional health and other imaging products and services. The company is made up of the following operating segments: Consumer Imaging Kodak Professional Health Imaging and Other Imaging. Eastman Kodak Company has a market cap of $1.97 billion; its shares were traded at around $6.76 with a P/E ratio of 68.5 and P/S ratio of 0.19. The dividend yield of Eastman Kodak Company stocks is 6.8%.
Sold Out: Motorola Inc. (MOT) Brian Rogers sold out his holdings in Motorola Inc.. His sale prices were between $3.24 and $5.55, with an estimated average price of $4.5. The impact to his portfolio due to this sale was less than 0.01%.
Motorola Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. They manufacture telecommunication equipment and software for consumers network operators and commercial government and industrial customers. They also produce embedded semiconductor solutions embedded electronic systems digital and analog systems and set-top terminals for broadband cable television operators. Motorola Inc. has a market cap of $10.11 billion; its shares were traded at around $4.31 with a P/E ratio of 26.5 and P/S ratio of 0.28. The dividend yield of Motorola Inc. stocks is 4.48%.
Sold Out: Ford Motor Company (F) Brian Rogers sold out his holdings in Ford Motor Company. His sale prices were between $1.43 and $3.04, with an estimated average price of $2.3. The impact to his portfolio due to this sale was less than 0.01%.
Ford Motor Company produces cars and trucks. The company and its subsidiaries also engage in other businesses including manufacturing automotive components and systems and financing and renting vehicles and equipment. The company is divided up into the following four operating segments: Automotive Visteon Automotive Systems Ford Motor Credit Company and The Hertz Corporation. Ford Motor Company has a market cap of $5.95 billion; its shares were traded at around $2.13 with and P/S ratio of 0.03.
Sold Out: Southwest Airlines Co. (LUV) Brian Rogers sold out his holdings in Southwest Airlines Co.. His sale prices were between $7.3 and $12.18, with an estimated average price of $9.8. The impact to his portfolio due to this sale was less than 0.01%.
Southwest Airlines is a major domestic airline that provides primarily shorthaul high-frequency point-to-point low-fare service. Southwest operates over Boeing 737 aircraft in numerous cities. Southwest has the lowest operating cost structure in the domestic airline industry and consistently offers the lowest and simplest fares. Southwest also has one of the best overall Customer Service records. Southwest Airlines Co. has a market cap of $6.33 billion; its shares were traded at around $8.14 with a P/E ratio of 18.8 and P/S ratio of 0.64. The dividend yield of Southwest Airlines Co. stocks is 0.21%. Southwest Airlines Co. had an annual average earning growth of 4.3% over the past 10 years. GuruFocus rated Southwest Airlines Co. the business predictability rank of 2-star.
Sold Out: National City Corp. (NCC) Brian Rogers sold out his holdings in National City Corp.. His sale prices were between $1.6 and $3, with an estimated average price of $2.1. The impact to his portfolio due to this sale was less than 0.01%.
National City Corporation is a financial holding company. The company offers a full range of financial services including investment banking brokerage mutual fund insurance and traditional banking services to individuals and businesses. National City has offices in Ohio Pennsylvania Michigan Indiana Kentucky and Illinois. (Company Press Release). National City Corp. had an annual average earning growth of 3.1% over the past 10 years.
Brian Rogers buys Deere & Company, INBEV SA ORD SHS, Tiffany & Co., Marriott International Inc., , Eaton Corp., Cisco Systems Inc., CONSOL Energy Inc., Marshall & Ilsley Corp., Weyerhaeuser Company, NRG Energy Inc., Janus Capital Group Inc., The Estee Lauder Companies Inc., sells The Procter & Gamble Company, Abbott Laboratories, General Mills Inc., Motorola Inc., Southwest Airlines Co., Ford Motor Company, American International Group Inc., Eastman Kodak Company, ROYAL BANK ADS, National City Corp. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, T Rowe Price Equity Income Fund. Brian Rogers owns 124 stocks with a total value of $13.5 billion. These are the details of the buys and sells.
New Purchases: CNX, CSCO, DE, EL, ETN, JNS, MAR, MI, NRG, TIF, VDFOF.PK, WY,
Added Positions: AXP, BA, BDK, BP, CVC, CVX, FO, GE, GS, HIG, LNC, M, MUR, NUE, RDS-A, SLB, TEL, WHR, WPPGY,
Reduced Positions:ALU, AMGN, BJS, CBS, CL, DHI, FE, FNM, GCI, HRB, LLY, LM, WFMI,
Sold Out: ABT, AIG, EK, F, GIS, LUV, MOT, NCC, PG, RBS,
For the details of Brian Rogers's stock buys and sells, go to the Link Here
Added: Goldman Sachs Group Inc. The (GS, Financial) Brian Rogers added to his holdings in Goldman Sachs Group Inc. The by 125%. His purchase prices were between $53.31 and $113.95, with an estimated average price of $80.6. The impact to his portfolio due to this purchase was 0.47%. His holdings were 1,350,000 shares as of 12/31/2008.
Goldman Sachs is a global investment banking and securities firm providing a full range of investing advisory and financing services worldwide to a substantial and diversified client base which includes corporations financial institutions governments and high net worth individuals. (Company Press Release) Goldman Sachs Group Inc. The has a market cap of $33.19 billion; its shares were traded at around $59.2 with a P/E ratio of 14.6 and P/S ratio of 0.62. The dividend yield of Goldman Sachs Group Inc. The stocks is 1.67%. Goldman Sachs Group Inc. The had an annual average earning growth of 24.5% over the past 10 years.
Added: Nucor Corp. (NUE, Financial) Brian Rogers added to his holdings in Nucor Corp. by 60%. His purchase prices were between $28.06 and $44.98, with an estimated average price of $36.4. The impact to his portfolio due to this purchase was 0.46%. His holdings were 3,600,000 shares as of 12/31/2008.
Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles rounds flats channels sheet wide-flange beams pilings billets blooms and beam blanks) cold-rolled steel cold finished steel steel joists and joist girders steeldeck steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products with operating facilities in fourteen states. Nucor Corp. has a market cap of $13.73 billion; its shares were traded at around $40.05 with a P/E ratio of 6 and P/S ratio of 0.83. The dividend yield of Nucor Corp. stocks is 3.2%. Nucor Corp. had an annual average earning growth of 26.2% over the past 10 years.
Added: The Boeing Company (BA, Financial) Brian Rogers added to his holdings in The Boeing Company by 71.43%. His purchase prices were between $39.2 and $52.03, with an estimated average price of $42.7. The impact to his portfolio due to this purchase was 0.4%. His holdings were 3,000,000 shares as of 12/31/2008.
The Boeing Company is one of the world's major aerospace firms. The company operates in three principal segments: commercial airplanes; military aircraft and missiles; and space and communications. The Boeing Company has a market cap of $31.33 billion; its shares were traded at around $40.36 with a P/E ratio of 8.3 and P/S ratio of 0.47. The dividend yield of The Boeing Company stocks is 3.6%. The Boeing Company had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated The Boeing Company the business predictability rank of 2.5-star.
Added: Murphy Oil Corp. (MUR, Financial) Brian Rogers added to his holdings in Murphy Oil Corp. by 44%. His purchase prices were between $39 and $50.37, with an estimated average price of $44.5. The impact to his portfolio due to this purchase was 0.36%. His holdings were 3,600,000 shares as of 12/31/2008.
Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom and crude oil transportation and trading operations in Canada. Murphy Oil Corp. has a market cap of $9.07 billion; its shares were traded at around $43 with a P/E ratio of 4.8 and P/S ratio of 0.49. The dividend yield of Murphy Oil Corp. stocks is 2.1%. Murphy Oil Corp. had an annual average earning growth of 18.4% over the past 10 years. GuruFocus rated Murphy Oil Corp. the business predictability rank of 3.5-star.
Added: Schlumberger Ltd. (SLB, Financial) Brian Rogers added to his holdings in Schlumberger Ltd. by 111.11%. His purchase prices were between $39.08 and $60.25, with an estimated average price of $47. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,900,000 shares as of 12/31/2008.
Schlumberger Limited is a global technology services company consisting of two business segments Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis. Schlumberger Ltd. has a market cap of $51.44 billion; its shares were traded at around $36.83 with a P/E ratio of 8.6 and P/S ratio of 2.21. The dividend yield of Schlumberger Ltd. stocks is 1.95%. Schlumberger Ltd. had an annual average earning growth of 58.5% over the past 5 years.
Added: Fortune Brands Inc. (FO, Financial) Brian Rogers added to his holdings in Fortune Brands Inc. by 28.57%. His purchase prices were between $32.83 and $40.5, with an estimated average price of $37.8. The impact to his portfolio due to this purchase was 0.31%. His holdings were 4,500,000 shares as of 12/31/2008.
Fortune Brands is a holding company with subsidiaries engaged in themanufacture and sale of home products (plumbing accessories security devices and tool storage products) office products (stapling equipment computer accessories and supplies) golf products and spirits and wine. The company is recently involved in a strategy of seeking to enhance the operations of its principal operating companies. Fortune Brands Inc. has a market cap of $6.06 billion; its shares were traded at around $38.18 with a P/E ratio of 8.5 and P/S ratio of 0.71. The dividend yield of Fortune Brands Inc. stocks is 4.35%. Fortune Brands Inc. had an annual average earning growth of 11.5% over the past 10 years. GuruFocus rated Fortune Brands Inc. the business predictability rank of 5-star.
Added: General Electric Company (GE, Financial) Brian Rogers added to his holdings in General Electric Company by 10.87%. His purchase prices were between $13.77 and $21.09, with an estimated average price of $17.4. The impact to his portfolio due to this purchase was 0.3%. His holdings were 25,500,000 shares as of 12/31/2008.
General Electric is one of the largest and most diversified industrial corporations in the world. GE is engaged in developing manufacturing and marketing a wide variety of products for the generation transmission distribution control and utilization of electricity. Some of GE's products include major appliances; lighting products; industrial automation products; medical diagnostic imaging equipment; motors; electrical distribution and control equipment; locomotives; power generation and delivery products. General Electric Company has a market cap of $159.29 billion; its shares were traded at around $12.93 with a P/E ratio of 7 and P/S ratio of 0.92. The dividend yield of General Electric Company stocks is 7.75%. General Electric Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 3.5-star.
Added: Royal Dutch Shell plc (RDS-A) Brian Rogers added to his holdings in Royal Dutch Shell plc by 15.6%. His purchase prices were between $44.1 and $55.06, with an estimated average price of $50.1. The impact to his portfolio due to this purchase was 0.3%. His holdings were 5,750,000 shares as of 12/31/2008.
Royal Dutch Petroleum Company owns 60% of the Royal Dutch/Shell Group of companies. These companies are involved in all phases of the petroleum industry from exploration to final processing and delivery. Royal Dutch Petroleum Company has not operations of its own and virtually the whole of its income is derived from its 60% interest. Royal Dutch Shell plc has a market cap of $165.54 billion; its shares were traded at around $47.44 with a P/E ratio of 5.7 and P/S ratio of 0.47. The dividend yield of Royal Dutch Shell plc stocks is 5.04%. Royal Dutch Shell plc had an annual average earning growth of 14.6% over the past 10 years. GuruFocus rated Royal Dutch Shell plc the business predictability rank of 2.5-star.
Added: BP p.l.c. (BP, Financial) Brian Rogers added to his holdings in BP p.l.c. by 25%. His purchase prices were between $39.83 and $48.81, with an estimated average price of $44.9. The impact to his portfolio due to this purchase was 0.26%. His holdings were 3,750,000 shares as of 12/31/2008.
BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Their main activities are exploration and production of crude oil and natural gas; refining marketing supply and transportation; and manufacturing and marketing of petrochemicals. They have a growing activity in gas and power and in solar power generation. BP has well-established operations in Europe North and South America Australasia and Africa. BP p.l.c. has a market cap of $164.81 billion; its shares were traded at around $41.27 with a P/E ratio of 4.5 and P/S ratio of 0.57. The dividend yield of BP p.l.c. stocks is 7.01%. BP p.l.c. had an annual average earning growth of 17.8% over the past 10 years. GuruFocus rated BP p.l.c. the business predictability rank of 2-star.
Added: American Express Company (AXP, Financial) Brian Rogers added to his holdings in American Express Company by 38.89%. His purchase prices were between $17.76 and $27.27, with an estimated average price of $21.9. The impact to his portfolio due to this purchase was 0.24%. His holdings were 6,250,000 shares as of 12/31/2008.
American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $22.3 billion; its shares were traded at around $15.6 with a P/E ratio of 6.1 and P/S ratio of 0.8. The dividend yield of American Express Company stocks is 3.74%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Added: Tyco Electronics Ltd. (TEL, Financial) Brian Rogers added to his holdings in Tyco Electronics Ltd. by 105.41%. His purchase prices were between $14.36 and $20.18, with an estimated average price of $16.9. The impact to his portfolio due to this purchase was 0.17%. His holdings were 2,750,000 shares as of 12/31/2008.
Tyco Electronics Ltd. global provider of engineered electronic components for thousands of consumer and industrial products; network solutions and systems for telecommunications and energy markets; and wireless systems for critical communications radar and defense applications. They design manufacture and market products for customers in industries ranging from automotive appliance aerospace and defense to telecommunications computers and consumer electronics. Tyco Electronics Ltd. has a market cap of $7.74 billion; its shares were traded at around $15.07 with a P/E ratio of 6 and P/S ratio of 0.52. The dividend yield of Tyco Electronics Ltd. stocks is 3.78%.
Added: Chevron Corp. (CVX, Financial) Brian Rogers added to his holdings in Chevron Corp. by 4.35%. His purchase prices were between $57.33 and $79.01, with an estimated average price of $70.5. The impact to his portfolio due to this purchase was 0.14%. His holdings were 6,000,000 shares as of 12/31/2008.
Chevron is the fifth-largest integrated energy company in the world. Headquartered in San Ramon California and conducting business in approximately 180 countries this highly competitive corporation is engaged in every aspect of the oil and natural gas industry including exploration and production; refining marketing and transportation; chemicals manufacturing and sales; and power generation. Chevron Corp. has a market cap of $147.96 billion; its shares were traded at around $68.31 with a P/E ratio of 6 and P/S ratio of 0.67. The dividend yield of Chevron Corp. stocks is 3.57%. Chevron Corp. had an annual average earning growth of 14.5% over the past 10 years. GuruFocus rated Chevron Corp. the business predictability rank of 3.5-star.
Added: Cablevision Systems Corp. NY Group (CVC, Financial) Brian Rogers added to his holdings in Cablevision Systems Corp. NY Group by 28.57%. His purchase prices were between $12.25 and $17.87, with an estimated average price of $15. The impact to his portfolio due to this purchase was 0.12%. His holdings were 4,500,000 shares as of 12/31/2008.
Cablevision Systems Corp. is one of the nation's leading entertainment and telecommunications companies. Its cable television operations serve households located primarily in the New York metropolitan area. The company's advanced telecommunications offerings include its Lightpath integrated business communications services and its Optimum-branded high-speed Internet service. (Company Press Release) Cablevision Systems Corp. NY Group has a market cap of $5.43 billion; its shares were traded at around $16.31 with a P/E ratio of 139.5 and P/S ratio of 0.84. The dividend yield of Cablevision Systems Corp. NY Group stocks is 2.19%.
Added: Whirlpool Corp. (WHR) Brian Rogers added to his holdings in Whirlpool Corp. by 19.05%. His purchase prices were between $31.97 and $66.2, with an estimated average price of $45.3. The impact to his portfolio due to this purchase was 0.12%. His holdings were 2,500,000 shares as of 12/31/2008.
Whirlpool Corp. manufactures and markets a full line of major appliances and related products primarily for home use. The company's principal products are home laundry appliances home refrigerators and freezers home cooking appliances home dishwashers room air-conditioning equipment and mixers and other small household appliances. The company also produces hermetic compressors and plastic components primarilyfor the home appliance and electronics industries. Whirlpool Corp. has a market cap of $3.27 billion; its shares were traded at around $35.82 with a P/E ratio of 5.5 and P/S ratio of 0.17. The dividend yield of Whirlpool Corp. stocks is 3.87%. Whirlpool Corp. had an annual average earning growth of 5.7% over the past 10 years. GuruFocus rated Whirlpool Corp. the business predictability rank of 2.5-star.
Added: Lincoln National Corp. (LNC) Brian Rogers added to his holdings in Lincoln National Corp. by 16.88%. His purchase prices were between $6.31 and $23.75, with an estimated average price of $17.4. The impact to his portfolio due to this purchase was 0.09%. His holdings were 4,500,000 shares as of 12/31/2008.
Lincoln National Corp. is a holding company. Through subsidiary companies the company operates multiple insurance and investment management businesses. Operations are divided into four business segments: Life Insurance and Annuities; Lincoln UK; Reinsurance and; Investment Management. Lincoln National Corp. has a market cap of $5.14 billion; its shares were traded at around $14.68 with a P/E ratio of 3.2 and P/S ratio of 0.49. The dividend yield of Lincoln National Corp. stocks is 4.18%. Lincoln National Corp. had an annual average earning growth of 17.5% over the past 10 years.
Added: Macy's Inc. (M) Brian Rogers added to his holdings in Macy's Inc. by 40%. His purchase prices were between $5.64 and $12.11, with an estimated average price of $9. The impact to his portfolio due to this purchase was 0.08%. His holdings were 3,500,000 shares as of 12/31/2008.
Federated Department Stores through its subsidiaries is one of the leading operators of full-line department stores in the United States. The Company's subsidiaries operate department stores under the names Bloomingdale's The Bon Marche Burdines Goldsmith's Lazarus Macy's Rich's and Stern's. These department stores sell a wide range of merchandise including men's women's and children's apparel and accessories cosmetics home furnishings and other consumer goods. Macy's Inc. has a market cap of $4.33 billion; its shares were traded at around $8.73 with a P/E ratio of 4.9 and P/S ratio of 0.16. The dividend yield of Macy's Inc. stocks is 5.15%. Macy's Inc. had an annual average earning growth of 2.6% over the past 10 years. GuruFocus rated Macy's Inc. the business predictability rank of 2-star.
Added: Black & Decker Corp. The (BDK) Brian Rogers added to his holdings in Black & Decker Corp. The by 25%. His purchase prices were between $35.19 and $51.54, with an estimated average price of $44.3. The impact to his portfolio due to this purchase was 0.08%. His holdings were 1,250,000 shares as of 12/31/2008.
The Black & Decker Corporation is a global marketer and manufacturer of quality products used in and around the home and for commercial applications. The Corporation is one of the world's leading producers of power tools power tool accessories and residential security hardware and the Corporation's product lines hold leading market share positions in these industries. They are a major global supplier of engineered fastening and assembly systems. They are also one of the leading producers of faucets in North America. Black & Decker Corp. The has a market cap of $2.53 billion; its shares were traded at around $37.46 with a P/E ratio of 7.3 and P/S ratio of 0.38. The dividend yield of Black & Decker Corp. The stocks is 4%. Black & Decker Corp. The had an annual average earning growth of 7.7% over the past 10 years.
Added: WPP Group plc (WPPGY) Brian Rogers added to his holdings in WPP Group plc by 41.67%. His purchase prices were between $24.18 and $33.19, with an estimated average price of $28.3. The impact to his portfolio due to this purchase was 0.05%. His holdings were 4,250,000 shares as of 12/31/2008.
WPP Group plc is an advertising company. The Company provides public relations media advertising strategic market services market research and sales promotion audio visual and identity and design advertising that is in a non-media format. WPP Group provides its advertising services worldwide. WPP Group plc has a market cap of $7.19 billion; its shares were traded at around $26.79 with and P/S ratio of 0.58. The dividend yield of WPP Group plc stocks is 4.19%. WPP Group plc had an annual average earning growth of 11.7% over the past 10 years.
Added: The Hartford Financial Services Group In (HIG) Brian Rogers added to his holdings in The Hartford Financial Services Group In by 100%. His purchase prices were between $4.72 and $27.39, with an estimated average price of $15. The impact to his portfolio due to this purchase was 0.03%. His holdings were 500,000 shares as of 12/31/2008.
Hartford Financial Services is one of the nation's largest investment and insurance companies offers a complete line of insurance and financial service products to customers all over the world. The company is a provider of automobile and homeowners coverages; commercial property and casualty insurance; reinsurance; and a variety of life insurance investment products employee benefits group retirement plans and institutional liability funding products. The Hartford Financial Services Group In has a market cap of $5.46 billion; its shares were traded at around $11.51 with a P/E ratio of 2.5 and P/S ratio of 0.21. The dividend yield of The Hartford Financial Services Group In stocks is 7.05%. The Hartford Financial Services Group In had an annual average earning growth of 7.2% over the past 10 years.
New Purchase: Deere & Company (DE) Brian Rogers initiated holdings in Deere & Company. His purchase prices were between $30.14 and $39.13, with an estimated average price of $35.6. The impact to his portfolio due to this purchase was 0.85%. His holdings were 3,000,000 shares as of 12/31/2008.
Deere & Company is the one world's foremost producers of agricultural equipment as well as a leading manufacturer of construction forestry and commercial and consumer equipment. The company in addition provides credit special technology and managed health-care products and services. (Company Press Release) Deere & Company has a market cap of $19.42 billion; its shares were traded at around $37.29 with a P/E ratio of 9.2 and P/S ratio of 0.68. The dividend yield of Deere & Company stocks is 2.44%. Deere & Company had an annual average earning growth of 11% over the past 10 years.
New Purchase: Tiffany & Co. (TIF) Brian Rogers initiated holdings in Tiffany & Co.. His purchase prices were between $19.35 and $28.57, with an estimated average price of $23.4. The impact to his portfolio due to this purchase was 0.48%. His holdings were 2,750,000 shares as of 12/31/2008.
Tiffany & Co. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas Asia-Pacific and Europe and engages in direct selling through Internet catalog and business gift operations. Other operations include consolidated results from ventures operated under trademarks or tradenames other than TIFFANY & CO. Tiffany & Co. has a market cap of $2.76 billion; its shares were traded at around $21.3 with a P/E ratio of 7.6 and P/S ratio of 0.94. The dividend yield of Tiffany & Co. stocks is 3.04%. Tiffany & Co. had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated Tiffany & Co. the business predictability rank of 4-star.
New Purchase: Marriott International Inc. (MAR) Brian Rogers initiated holdings in Marriott International Inc.. His purchase prices were between $12.84 and $20.75, with an estimated average price of $17.5. The impact to his portfolio due to this purchase was 0.47%. His holdings were 3,250,000 shares as of 12/31/2008.
Marriott International Inc. operates and franchises hotels under the Marriott JW Marriott The Ritz-Carlton Renaissance Residence Inn Courtyard TownePlace Suites Fairfield Inn SpringHill Suites and Ramada International brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International Horizons The Ritz-Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. Marriott International Inc. has a market cap of $6.85 billion; its shares were traded at around $16.76 with a P/E ratio of 10.2 and P/S ratio of 0.53. The dividend yield of Marriott International Inc. stocks is 1.78%. Marriott International Inc. had an annual average earning growth of 5.9% over the past 10 years.
New Purchase: (VDFOF.PK) Brian Rogers initiated holdings in . The impact to his portfolio due to this purchase was 0.4%. His holdings were 27,000,000 shares as of 12/31/2008.
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New Purchase: Eaton Corp. (ETN) Brian Rogers initiated holdings in Eaton Corp.. His purchase prices were between $41.15 and $47.46, with an estimated average price of $44.2. The impact to his portfolio due to this purchase was 0.37%. His holdings were 1,000,000 shares as of 12/31/2008.
Eaton Corporation is a global diversified industrial manufacturer. Eaton is one of the leaders in fluid power systems electrical power quality and controls automotive air management and fuel economy and intelligent truck components for fuel economy and safety. Eaton Corp. has a market cap of $8.27 billion; its shares were traded at around $47 with a P/E ratio of 6.4 and P/S ratio of 0.63. The dividend yield of Eaton Corp. stocks is 3.99%. Eaton Corp. had an annual average earning growth of 7.4% over the past 10 years.
New Purchase: Cisco Systems Inc. (CSCO) Brian Rogers initiated holdings in Cisco Systems Inc.. His purchase prices were between $15.17 and $17.91, with an estimated average price of $16.7. The impact to his portfolio due to this purchase was 0.33%. His holdings were 2,750,000 shares as of 12/31/2008.
Cisco Systems Inc. is the worldwide leader in networking for the Internet. Cisco's Internet Protocol-based networking solutions are the foundation of the Internet and most corporate education and government networks around the world. Cisco provides the broadest line of solutions for transporting data voice and video within buildings across campuses or around the world. Cisco Systems Inc. has a market cap of $97.78 billion; its shares were traded at around $15.01 with a P/E ratio of 11.2 and P/S ratio of 2.48. Cisco Systems Inc. had an annual average earning growth of 17.1% over the past 10 years.
New Purchase: CONSOL Energy Inc. (CNX) Brian Rogers initiated holdings in CONSOL Energy Inc.. His purchase prices were between $20.8 and $34.11, with an estimated average price of $28. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,500,000 shares as of 12/31/2008.
CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States and the largest exporter of U.S. coal. CONSOL Energy Inc. has a market cap of $5.75 billion; its shares were traded at around $24.58 with a P/E ratio of 18 and P/S ratio of 1.53. The dividend yield of CONSOL Energy Inc. stocks is 1.26%. CONSOL Energy Inc. had an annual average earning growth of 28.5% over the past 5 years.
New Purchase: Marshall & Ilsley Corp. (MI) Brian Rogers initiated holdings in Marshall & Ilsley Corp.. His purchase prices were between $11.85 and $19.21, with an estimated average price of $14.8. The impact to his portfolio due to this purchase was 0.3%. His holdings were 3,000,000 shares as of 12/31/2008.
Marshall & Ilsley Corp. is a diversified financial services corporation. The company has a large retail banking presence in Wisconsin with offices throughout the state. In addition M&I retail locations are located in Phoenix and Tucson Ariz.; Las Vegas Nev. and Naples Fla. M&I also provides trust and investment management equipment leasing data processing mortgage banking financial planning investments and insurance services from offices throughout the country and on the Internet. (Company Press Release) Marshall & Ilsley Corp. has a market cap of $2.96 billion; its shares were traded at around $6 with and P/S ratio of 1.25. The dividend yield of Marshall & Ilsley Corp. stocks is 11.26%. Marshall & Ilsley Corp. had an annual average earning growth of 8.7% over the past 10 years. GuruFocus rated Marshall & Ilsley Corp. the business predictability rank of 4.5-star.
New Purchase: Weyerhaeuser Company (WY) Brian Rogers initiated holdings in Weyerhaeuser Company. His purchase prices were between $30.11 and $46.18, with an estimated average price of $35.4. The impact to his portfolio due to this purchase was 0.28%. His holdings were 1,250,000 shares as of 12/31/2008.
Weyerhaeuser Company is principally engaged in the growing and harvesting of timber and the manufacture distribution and sale of forest products real estate development and construction and other real estate relatedactivities. Its business segments are timberlands; wood products;pulp paper and packaging; and real estate and related assets. Weyerhaeuser Company has a market cap of $6.55 billion; its shares were traded at around $26.66 with a P/E ratio of 140.6 and P/S ratio of 0.4. The dividend yield of Weyerhaeuser Company stocks is 7.75%. Weyerhaeuser Company had an annual average earning growth of 4.6% over the past 10 years.
New Purchase: NRG Energy Inc. (NRG) Brian Rogers initiated holdings in NRG Energy Inc.. His purchase prices were between $15.17 and $23.86, with an estimated average price of $21.5. The impact to his portfolio due to this purchase was 0.17%. His holdings were 1,000,000 shares as of 12/31/2008.
NRG Energy Inc owns and operates a diverse portfolio of power-generating facilities primarily in the United States. Its operations include baseload intermediate peaking and cogeneration facilities thermal energy production and energy resource recovery facilities. NRG Energy Inc. has a market cap of $5.52 billion; its shares were traded at around $22.4 with a P/E ratio of 11.8 and P/S ratio of 0.92. NRG Energy Inc. had an annual average earning growth of 25.9% over the past 5 years.
New Purchase: Janus Capital Group Inc. (JNS) Brian Rogers initiated holdings in Janus Capital Group Inc.. His purchase prices were between $6.45 and $12.34, with an estimated average price of $8.9. The impact to his portfolio due to this purchase was 0.16%. His holdings were 2,624,400 shares as of 12/31/2008.
Janus Capital Group Inc. is a leading asset manager offering individual investors and institutional clients complementary asset management disciplines through the firm's global distribution network. Janus Capital Group consists of Janus Capital Management LLC Berger Financial Group LLC Enhanced Investment Technologies LLC and Bay Isle Financial LLC. Janus Capital Group Inc. has a market cap of $1.37 billion; its shares were traded at around $5.62 with a P/E ratio of 6.4 and P/S ratio of 1.17. The dividend yield of Janus Capital Group Inc. stocks is 0.46%. Janus Capital Group Inc. had an annual average earning growth of 8.4% over the past 5 years.
New Purchase: The Estee Lauder Companies Inc. (EL) Brian Rogers initiated holdings in The Estee Lauder Companies Inc.. His purchase prices were between $25.13 and $38.94, with an estimated average price of $31.2. The impact to his portfolio due to this purchase was 0.06%. His holdings were 250,000 shares as of 12/31/2008.
Estee Lauder Co. is one of the world's leading manufacturers and marketers of quality skin care makeup fragrance and hair care products. Its products are sold in numerous countries and territories under the following well-recognized brand names: Estee Lauder Clinique Aramis Prescriptives Origins M.A.C Bobbi Brown essentials La Mer jane Aveda Stila Jo Malone and Bumble and bumble. The company is also the global licensee for fragrances and cosmetics sold under the TommyHilfiger Donna Karan and Kate Spade brands. The Estee Lauder Companies Inc. has a market cap of $6 billion; its shares were traded at around $26.12 with a P/E ratio of 12.4 and P/S ratio of 0.76. The dividend yield of The Estee Lauder Companies Inc. stocks is 1.8%. The Estee Lauder Companies Inc. had an annual average earning growth of 8.2% over the past 10 years. GuruFocus rated The Estee Lauder Companies Inc. the business predictability rank of 3-star.
Reduced: Fannie Mae (FNM) Brian Rogers reduced to his holdings in Fannie Mae by 74.38%. His sale prices were between $0.3 and $1.16, with an estimated average price of $0.8. The impact to his portfolio due to this sale was -0.01%. Brian Rogers still held 2,841,400 shares as of 12/31/2008.
Fannie Mae is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation's largest sources of financing for home mortgages. Fannie Mae is working to shrink the nation's homeownership gaps through an American Dream Commitment to increase homeownership rates and serve targeted American families by the end of the decade. (Company Press Release) Fannie Mae has a market cap of $796.39 million; its shares were traded at around $0.63 with and P/S ratio of 0.02. Fannie Mae had an annual average earning growth of 35.6% over the past 10 years.
Reduced: Whole Foods Market Inc. (WFMI) Brian Rogers reduced to his holdings in Whole Foods Market Inc. by 25%. His sale prices were between $8.19 and $14.83, with an estimated average price of $10.7. The impact to his portfolio due to this sale was -0.03%. Brian Rogers still held 1,500,000 shares as of 12/31/2008.
Whole Foods Market is the largest purveyor of natural foods in the world. They own and operate the country's largest chain of natural food supermarkets. They are like an old-fashioned neighborhood grocery store an organic farmer's market a European bakery a New York deli and a modern supermarket all rolled into one! The Company also offers a wide variety of non-perishable natural products on its Web site at http://wholefoods.com. Whole Foods Market Inc. has a market cap of $1.76 billion; its shares were traded at around $11.22 with a P/E ratio of 10.9 and P/S ratio of 0.22. Whole Foods Market Inc. had an annual average earning growth of 14.7% over the past 10 years. GuruFocus rated Whole Foods Market Inc. the business predictability rank of 5-star.
Reduced: AlcatelLucent (ALU) Brian Rogers reduced to his holdings in AlcatelLucent by 66.67%. His sale prices were between $1.86 and $2.71, with an estimated average price of $2.2. The impact to his portfolio due to this sale was -0.05%. Brian Rogers still held 5,000,000 shares as of 12/31/2008.
Alcatel builds next generation networks delivering integrated end-to-end voice and data communications solutions to established and new carriers as well as enterprises and consumers worldwide. The companythe world leader in ADSL1 equipment has expanded ts ADSL modem line with the launch of the Speed TouchTM IAD? offering Voice over ADSL service. Working on an existing copper telephone line ADSL's transmission speed is up to 200times faster than today's analog modems. AlcatelLucent has a market cap of $5.19 billion; its shares were traded at around $1.86 with and P/S ratio of 0.21.
Reduced: BJ Services Company (BJS) Brian Rogers reduced to his holdings in BJ Services Company by 37.17%. His sale prices were between $9.35 and $12.88, with an estimated average price of $11.2. The impact to his portfolio due to this sale was -0.08%. Brian Rogers still held 2,500,000 shares as of 12/31/2008.
BJ Services Company is a leading provider of pressure pumping and other oilfield services serving the petroleum industry worldwide. The Company's pressure pumping services consist of cementing and stimulation services used in the completion of new oil and natural gas wells and in remedial work on existing wells both onshore and offshore. BJ Services Company has a market cap of $3.53 billion; its shares were traded at around $10.39 with a P/E ratio of 5.5 and P/S ratio of 0.65. The dividend yield of BJ Services Company stocks is 1.65%. BJ Services Company had an annual average earning growth of 24.7% over the past 10 years. GuruFocus rated BJ Services Company the business predictability rank of 3-star.
Reduced: D.R. Horton Inc. (DHI) Brian Rogers reduced to his holdings in D.R. Horton Inc. by 50%. His sale prices were between $4.32 and $8.49, with an estimated average price of $6.8. The impact to his portfolio due to this sale was -0.08%. Brian Rogers still held 3,000,000 shares as of 12/31/2008.
D.R. Horton Inc. one of the largest homebuilders in the United States builds high quality single-family homes designed principally for the entry-level and move-up markets. Founded in 1978 the company builds and sells homes with a geographic presence in the Midwest Mid-Atlantic Southeast Southwest and Western regions of the United States. The company also provides mortgage financing and title services. D.R. Horton Inc. has a market cap of $2.5 billion; its shares were traded at around $6.07 with and P/S ratio of 0.38. The dividend yield of D.R. Horton Inc. stocks is 1.9%.
Reduced: Gannett Co. Inc. (GCI) Brian Rogers reduced to his holdings in Gannett Co. Inc. by 66.67%. His sale prices were between $6.03 and $12.28, with an estimated average price of $8.8. The impact to his portfolio due to this sale was -0.08%. Brian Rogers still held 2,000,000 shares as of 12/31/2008.
Gannett Co. Inc. is an international news and information company that publishes daily newspapers in the USA including USA TODAY the nation'slargest-selling daily newspaper. The company also owns in excess of 400 non-daily publications in the USA and USA WEEKEND a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company. Newsquest publishes more than 300 titles including 15 daily newspapers and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States. Gannett Co. Inc. has a market cap of $1.96 billion; its shares were traded at around $7.02 with a P/E ratio of 2.1 and P/S ratio of 0.26. The dividend yield of Gannett Co. Inc. stocks is 18.63%. Gannett Co. Inc. had an annual average earning growth of 4.9% over the past 10 years. GuruFocus rated Gannett Co. Inc. the business predictability rank of 4-star.
Reduced: CBS Corp. (CBS) Brian Rogers reduced to his holdings in CBS Corp. by 50%. His sale prices were between $4.75 and $9.26, with an estimated average price of $7.5. The impact to his portfolio due to this sale was -0.09%. Brian Rogers still held 3,000,000 shares as of 12/31/2008.
CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry as well as newer businesses that operate on the leading edge of the media industry. The Company through its many and varied operations combines broad reach with well-positioned local businesses all of which provide it with an extensive distribution network by which it serves audiences and advertisers in states and key international markets. It has operations in virtually every field of media and entertainment including broadcast television (CBS and UPN) cable television (Showtime) local television (CBS Television Stations) television production and syndication (CBS Paramount Television and King World) radio (CBS Radio) advertising on out-of-home media (CBS Outdoor) publishing (Simon & Schuster) theme parks (Paramount Parks) digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). CBS Corp. has a market cap of $5.71 billion; its shares were traded at around $6.48 with a P/E ratio of 4.1 and P/S ratio of 0.41. The dividend yield of CBS Corp. stocks is 12.86%.
Reduced: ColgatePalmolive Company (CL) Brian Rogers reduced to his holdings in ColgatePalmolive Company by 75%. His sale prices were between $55.94 and $68.1, with an estimated average price of $62.4. The impact to his portfolio due to this sale was -0.1%. Brian Rogers still held 250,000 shares as of 12/31/2008.
Colgate-Palmolive is a leading global consumer products company tightly focused on Oral Care Personal Care Household Surface Care Fabric Care and Pet Nutrition. Colgate sells its products in countries and territories around the world under such internationally recognized brand names as Colgate Palmolive Mennen Softsoap Irish Spring Protex Sorriso Kolynos Ajax Axion Soupline Suavitel and Fab as well as Hill's Science Diet and Hill's Prescription Diet pet foods. (Company Press Release) ColgatePalmolive Company has a market cap of $32.76 billion; its shares were traded at around $62.56 with a P/E ratio of 16.9 and P/S ratio of 2.38. The dividend yield of ColgatePalmolive Company stocks is 2.47%. ColgatePalmolive Company had an annual average earning growth of 8.5% over the past 10 years. GuruFocus rated ColgatePalmolive Company the business predictability rank of 3.5-star.
Reduced: Legg Mason Inc. (LM) Brian Rogers reduced to his holdings in Legg Mason Inc. by 69.23%. His sale prices were between $13.84 and $21.9, with an estimated average price of $18.5. The impact to his portfolio due to this sale was -0.11%. Brian Rogers still held 1,000,000 shares as of 12/31/2008.
Legg Mason Inc. is a holding company which through its subsidiaries isprincipally engaged in providing asset management securities brokerageinvestment banking and related financial services to individualsinstitutions corporations and municipalities. Legg Mason Inc. has a market cap of $3.29 billion; its shares were traded at around $17.34 with and P/S ratio of 0.71. The dividend yield of Legg Mason Inc. stocks is 4.11%. Legg Mason Inc. had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated Legg Mason Inc. the business predictability rank of 4.5-star.
Reduced: FirstEnergy Corp. (FE) Brian Rogers reduced to his holdings in FirstEnergy Corp. by 34.21%. His sale prices were between $45.01 and $58.58, with an estimated average price of $51.9. The impact to his portfolio due to this sale was -0.15%. Brian Rogers still held 1,250,000 shares as of 12/31/2008.
FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. FirstEnergy companies provide electricity and natural gas services and a wide array of energy-related products and services. FirstEnergy's four electric utility companies Ohio Edison and its Pennsylvania Power subsidiary The Illuminating Company and Toledo Edison serve customers in northern and central Ohio and western Pennsylvania. (Company Press Release) FirstEnergy Corp. has a market cap of $14.91 billion; its shares were traded at around $49.09 with a P/E ratio of 11.3 and P/S ratio of 1.16. The dividend yield of FirstEnergy Corp. stocks is 4.5%. FirstEnergy Corp. had an annual average earning growth of 4.4% over the past 10 years.
Reduced: H&R Block Inc. (HRB) Brian Rogers reduced to his holdings in H&R Block Inc. by 40.74%. His sale prices were between $15.4 and $22.07, with an estimated average price of $19. The impact to his portfolio due to this sale was -0.27%. Brian Rogers still held 4,000,000 shares as of 12/31/2008.
H&R Block Inc. is a diversified company involved in tax return preparationelectronic filing of income tax returns and other tax-related services. The Company's subsidiaries also offer investment services through broker-dealers originate purchase service sell and securitize mortgages offer personal productivity software purchase participation interests in refund anticipation loans made by a third-party lender and offer accounting tax and consulting services to business clients. H&R Block Inc. has a market cap of $7.2 billion; its shares were traded at around $20.02 with a P/E ratio of 14.7 and P/S ratio of 1.63. The dividend yield of H&R Block Inc. stocks is 2.82%. H&R Block Inc. had an annual average earning growth of 0.9% over the past 10 years.
Reduced: Eli Lilly and Company (LLY) Brian Rogers reduced to his holdings in Eli Lilly and Company by 30.07%. His sale prices were between $30.43 and $38.26, with an estimated average price of $33.8. The impact to his portfolio due to this sale was -0.36%. Brian Rogers still held 4,000,000 shares as of 12/31/2008.
Eli Lilly and Company discovers develops manufactures and sells products in one significant business segment -pharmaceutical products. The company directs its research efforts primarily toward the search for products to diagnose prevent and treat human diseases. The company also conducts research to find products to treat diseases in animals and to increase the efficiency of animal food production. Eli Lilly and Company has a market cap of $43.75 billion; its shares were traded at around $37.39 with a P/E ratio of 9.8 and P/S ratio of 2.35. The dividend yield of Eli Lilly and Company stocks is 4.89%. Eli Lilly and Company had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Eli Lilly and Company the business predictability rank of 4.5-star.
Reduced: Amgen Inc. (AMGN) Brian Rogers reduced to his holdings in Amgen Inc. by 37.5%. His sale prices were between $48.58 and $59.89, with an estimated average price of $56.2. The impact to his portfolio due to this sale was -0.4%. Brian Rogers still held 2,500,000 shares as of 12/31/2008.
Amgen Inc. discovers develops and delivers innovative human therapeutics. A biotechnology pioneer Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine helping millions of people around the world in the fight against cancer kidney disease rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines Amgen remains committed to advancing science to dramatically improve people's lives. Amgen Inc. has a market cap of $61.22 billion; its shares were traded at around $55 with a P/E ratio of 12.5 and P/S ratio of 4.14. Amgen Inc. had an annual average earning growth of 19.2% over the past 10 years. GuruFocus rated Amgen Inc. the business predictability rank of 4-star.
Sold Out: American International Group Inc. (AIG) Brian Rogers sold out his holdings in American International Group Inc.. His sale prices were between $1.57 and $2.33, with an estimated average price of $1.9. The impact to his portfolio due to this sale was less than 0.01%.
American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $4.36 billion; its shares were traded at around $1.37 with and P/S ratio of 0.04. American International Group Inc. had an annual average earning growth of 11.4% over the past 10 years.
Sold Out: ROYAL BANK ADS (RBS) Brian Rogers sold out his holdings in ROYAL BANK ADS. His sale prices were between $12.7 and $29, with an estimated average price of $18.7. The impact to his portfolio due to this sale was less than 0.01%.
The Royal Bank of Scotland Group plc is the holding company of one of the world?s largest banking and financial services groups with a market capitalisation of ?62.8 billion at the end of 2006. Headquartered in Edinburgh the Group operates in the UK US and internationally through its two principal subsidiaries the Royal Bank and NatWest. Both the Royal Bank and NatWest are major UK clearing banks whose origins go back over 275 years. In the US the Group?s subsidiary Citizens is ranked the eighth largest commercial banking organisation by deposits. The Group has a large and diversified customer base and provides a wide range of products and services to personal commercial and large corporate and institutional customers. ROYAL BANK ADS has a market cap of $829.8 million; its shares were traded at around $3.33 with and P/S ratio of 0.01. The dividend yield of ROYAL BANK ADS stocks is 134.4%.
Sold Out: The Procter & Gamble Company (PG) Brian Rogers sold out his holdings in The Procter & Gamble Company. His sale prices were between $58.87 and $64.54, with an estimated average price of $61.8. The impact to his portfolio due to this sale was less than 0.01%.
The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Products fall into five business segments: fabric and home care paper beauty care health care and food and beverage. Today P&G markets more than 250 products to more than five billion consumers in 130 countries. The Procter & Gamble Company has a market cap of $178.72 billion; its shares were traded at around $57.43 with a P/E ratio of 16.4 and P/S ratio of 2.14. The dividend yield of The Procter & Gamble Company stocks is 2.67%. The Procter & Gamble Company had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated The Procter & Gamble Company the business predictability rank of 3-star.
Sold Out: Abbott Laboratories (ABT) Brian Rogers sold out his holdings in Abbott Laboratories. His sale prices were between $49.09 and $55.06, with an estimated average price of $52.7. The impact to his portfolio due to this sale was less than 0.01%.
Abbott Laboratories is a global broad-based health care company devoted to discovering new medicines new technologies and new ways to manage health. Abbott products span the continuum of care from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Abbott Laboratories has a market cap of $79.39 billion; its shares were traded at around $49.2 with a P/E ratio of 15.8 and P/S ratio of 3.06. The dividend yield of Abbott Laboratories stocks is 2.81%. Abbott Laboratories had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 5-star.
Sold Out: General Mills Inc. (GIS) Brian Rogers sold out his holdings in General Mills Inc.. His sale prices were between $57.69 and $67.24, with an estimated average price of $62.7. The impact to his portfolio due to this sale was less than 0.01%.
General Mills Inc. is one of the leading producers of packaged consumer foods and markets its products primarily through its own sales organizations supported by advertising and other promotional activities. Such products are primarily distributed directly to retail food chains cooperatives membership stores and wholesalers. General Mills Inc. has a market cap of $19.42 billion; its shares were traded at around $59.79 with a P/E ratio of 14.6 and P/S ratio of 1.42. The dividend yield of General Mills Inc. stocks is 2.96%. General Mills Inc. had an annual average earning growth of 7.2% over the past 10 years. GuruFocus rated General Mills Inc. the business predictability rank of 4-star.
Sold Out: Eastman Kodak Company (EK) Brian Rogers sold out his holdings in Eastman Kodak Company. His sale prices were between $6.08 and $12.27, with an estimated average price of $8.4. The impact to his portfolio due to this sale was less than 0.01%.
Eastman Kodak Company is engaged primarily in developing manufacturing and marketing consumer professional health and other imaging products and services. The company is made up of the following operating segments: Consumer Imaging Kodak Professional Health Imaging and Other Imaging. Eastman Kodak Company has a market cap of $1.97 billion; its shares were traded at around $6.76 with a P/E ratio of 68.5 and P/S ratio of 0.19. The dividend yield of Eastman Kodak Company stocks is 6.8%.
Sold Out: Motorola Inc. (MOT) Brian Rogers sold out his holdings in Motorola Inc.. His sale prices were between $3.24 and $5.55, with an estimated average price of $4.5. The impact to his portfolio due to this sale was less than 0.01%.
Motorola Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. They manufacture telecommunication equipment and software for consumers network operators and commercial government and industrial customers. They also produce embedded semiconductor solutions embedded electronic systems digital and analog systems and set-top terminals for broadband cable television operators. Motorola Inc. has a market cap of $10.11 billion; its shares were traded at around $4.31 with a P/E ratio of 26.5 and P/S ratio of 0.28. The dividend yield of Motorola Inc. stocks is 4.48%.
Sold Out: Ford Motor Company (F) Brian Rogers sold out his holdings in Ford Motor Company. His sale prices were between $1.43 and $3.04, with an estimated average price of $2.3. The impact to his portfolio due to this sale was less than 0.01%.
Ford Motor Company produces cars and trucks. The company and its subsidiaries also engage in other businesses including manufacturing automotive components and systems and financing and renting vehicles and equipment. The company is divided up into the following four operating segments: Automotive Visteon Automotive Systems Ford Motor Credit Company and The Hertz Corporation. Ford Motor Company has a market cap of $5.95 billion; its shares were traded at around $2.13 with and P/S ratio of 0.03.
Sold Out: Southwest Airlines Co. (LUV) Brian Rogers sold out his holdings in Southwest Airlines Co.. His sale prices were between $7.3 and $12.18, with an estimated average price of $9.8. The impact to his portfolio due to this sale was less than 0.01%.
Southwest Airlines is a major domestic airline that provides primarily shorthaul high-frequency point-to-point low-fare service. Southwest operates over Boeing 737 aircraft in numerous cities. Southwest has the lowest operating cost structure in the domestic airline industry and consistently offers the lowest and simplest fares. Southwest also has one of the best overall Customer Service records. Southwest Airlines Co. has a market cap of $6.33 billion; its shares were traded at around $8.14 with a P/E ratio of 18.8 and P/S ratio of 0.64. The dividend yield of Southwest Airlines Co. stocks is 0.21%. Southwest Airlines Co. had an annual average earning growth of 4.3% over the past 10 years. GuruFocus rated Southwest Airlines Co. the business predictability rank of 2-star.
Sold Out: National City Corp. (NCC) Brian Rogers sold out his holdings in National City Corp.. His sale prices were between $1.6 and $3, with an estimated average price of $2.1. The impact to his portfolio due to this sale was less than 0.01%.
National City Corporation is a financial holding company. The company offers a full range of financial services including investment banking brokerage mutual fund insurance and traditional banking services to individuals and businesses. National City has offices in Ohio Pennsylvania Michigan Indiana Kentucky and Illinois. (Company Press Release). National City Corp. had an annual average earning growth of 3.1% over the past 10 years.
