is the chairman of T. Rowe Price Group, and has been a major
player in value investing for more than 33 years. He practices a
conservative investment philosophy, pursuing the common stocks of
established firms that are expected to pay above-average
dividends and appear to be out of favor, or undervalued.
T. Rowe Price has been publicly traded since 1986, under the
), upholding an equity value of $21.98 billion.
Recently, Rogers has reported to making reductions to his stakes
in several companies, with an average reduction rate of about 50
In total, he shed his holding of five companies as of Sept. 30,
2012: Kimberly-Clark Corp. (
), Pinnacle West Capital Corporation (
), Marriott International Inc. (
), Amgen Inc. (
) and Avery Dennison Corporation (
He also sold out his entire shareholdings for the following
companies: Monsanto Company (
), Credit Suisse Group (
), Bank of NY Mellon (BK), International Flavors & Fragrances
Inc. (IFF), NYSE Euronext (NYX), PPL Corporation (PPL), and
Valero Energy Corporation (VLO)
Among others, the highest sell transaction amounts by Rogers were
Kimberly-Clark Corp. at more than $204 million, Pinnacle West at
more than $76 million and Amgen Inc. at almost $67 million.
Kimberly-Clark Corp. (KMB)
Rogers reduced more than 75 percent of his shares of
Kimberly-Clark Corp. in the third quarter. From his 3.5 million
shares in the second quarter, he sold 2.3 million shares at
$87.43 per share, bringing his current holding down to 745,600.
This transaction positions Rogers at his lowest holding of
Kimberly Clark Corp. in five years.
Under Kimberly-Clark are a variety of global brands known in the
health, hygiene and personal care sectors. These brands include
Kleenex, Scott, HUGGIES, Pull-Ups, Kotex and Depend, all
distributed in more than 175 countries.
Kimberly-Clark's stock value has been on the rise currently
nearing its highest level since last year's fourth quarter.
Pinnacle West Capital Corporation (
After reducing more than 58 percent of his shares of Pinnacle
West, Rogers now has a total holding of the company at a little
over a million shares; he sold about 1.4 million shares of
Pinnacle in the third quarter, at $53.89 per share.
The transaction positions Rogers at his lowest holding of
Pinnacle in the last five years.
Pinnacle West is an Arizona-based company that distributes
electricity and sells energy products and services.
Hotter temperatures this year improved the company's second
quarter results, according to a Pinnacle report. Company earnings
experienced a 51-percent increase compared to last year's second
Pinnacle's current price, too, is near the same level as its
highest price in the last 12 months, at $54.05.
Amgen Inc. (
At $89.20 per share, Rogers sold almost 760,000 of his Amgen
shares, bringing his holding down to 1.75 million in the third
quarter; this transaction accounted for 30.23 percent of his
His current Amgen holdings trend actually shows intermittent
trades compared to his previous two high sells; his current
holdings of Amgen appear similar to quarters in 2009 and 2010,
before increasing in shares in 2011 and early 2012.
Amgen is selling at its highest price in the past 12 months.
Earlier this month, Amgen announced a $0.36 per share dividend
for the fourth quarter of 2012, which will be paid to all of its
shareholders on Dec. 7
Amgen is a biotechnology company that delivers human
therapeutics, and has been a staple in the medical industry since
it was founded in 1980.
To see more of Brian Rogers' portfolio, click here.About
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