Argent Capital Management Cuts JPMorgan Chase Stake by 3.2 Percent

Argent Capital Management LLC has reduced its stake in JPMorgan Chase & Co. (NYSE: JPM) by 3.2% during the third quarter of the year, according to its latest SEC filing. The investment firm sold 6,159 shares, bringing its total holdings to 188,290 shares, which now represent 0.5% of its overall portfolio. The value of Argent Capital Management's position in JPMorgan Chase & Co. stands at $62,292,000 as of the end of the most recent quarter.

Other institutional investors have also adjusted their positions in JPMorgan Chase & Co. Heartwood Wealth Advisors LLC increased its stake by 2.1%, while Violich Capital Management Inc. raised its position by 3.1%. Polaris Financial Partners acquired a new stake worth $456,000, and Boltwood Capital Management lifted its holdings by 0.7%. CX Institutional made the most significant move, boosting its position by 52.0%, now owning 44,782 shares valued at $14,815,000. Overall, institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. reported strong earnings for the quarter ending July 14, with earnings per share of $6.14, surpassing analyst estimates of $5.59. The company's revenue for the quarter was $58.02 billion, up 27.7% compared to the same period last year. The stock has a market cap of $885.44 billion, a P/E ratio of 14.27, and a PEG ratio of 1.39. Analysts anticipate the company will post earnings of $24.11 per share for the current year.

In other news, JPMorgan Chase & Co. recently declared a quarterly dividend of $1.65 per share, an increase from the previous $1.50. The dividend will be paid on October 31st to investors of record on October 6th, representing an annualized dividend of $6.60 and a dividend yield of 2.0%. Additionally, insider Robin Leopold sold 2,500 shares of the stock on September 10th at an average price of $352.81, reducing their position by 3.40%.