Argent Capital Management
Argent Capital Management Dividend Select Strategy
Sep 2026 → Sep 2026
Our archive holds 1 letter from this strategy, behind 7 investment theses and positions in 20 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Argent Capital Management for every strategy.
What it bought and sold
In financials, we initiated positions in Stifel Financial, MetLife, and State Street and added to PNC Financial Services Group.
In financials, we initiated positions in Stifel Financial, MetLife, and State Street and added to PNC Financial Services Group.
We also added to Viatris as we gained confidence in its improving growth profile and continued balance sheet progress, alongside the valuation discussed above.
We added to CVS Health as operating trends improved across several of its major businesses.
The sales of HCA Healthcare and MSA Safety were driven by the income objectives of Dividend Select rather than by any deterioration in either business.
Dividend Select did not own Apple and held a smaller position in Microsoft than the benchmark, and both stocks outperformed during the quarter.
The sales of HCA Healthcare and MSA Safety were driven by the income objectives of Dividend Select rather than by any deterioration in either business.
In healthcare, we initiated a position in Pfizer, one of the world’s largest pharmaceutical companies, attracted by durable cash generation, a dividend yield above 6% that management has identified as its first capital allocation priority, improving cost discipline, and potential upside from a broad research pipeline.
In financials, we initiated positions in Stifel Financial, MetLife, and State Street and added to PNC Financial Services Group.
We sold International Flavors & Fragrances as the balance between expected return and execution risk became less attractive amid continued uncertainty around the company’s portfolio transformation.
In financials, we initiated positions in Stifel Financial, MetLife, and State Street and added to PNC Financial Services Group.
Also held
Its investment theses
- Viatris Inc.Sep 2026Viatris is attractive for its improving growth profile, inexpensive valuation, product mix shift to higher-value medicines, and balance sheet deleveraging.
- Garmin Ltd.Sep 2026Garmin combines durable growth across multiple product categories with better profitability and upward earnings revisions.
- Pfizer Inc.Sep 2026Pfizer offers a high dividend, low valuation, strong cash generation, and pipeline-driven upside supported by cost savings and oncology assets.
- CVS Health CorporationSep 2026CVS Health is gaining from improving margins, strong client retention, retail pharmacy share gains, and deleveraging that supports future capital returns.
- Stifel Financial Corp.Sep 2026Stifel Financial offers recurring wealth management revenue, capital markets leverage, and margin expansion potential alongside shareholder returns.
- PNC Financial Services Group, Inc.Sep 2026PNC Financial benefits from a strong deposit franchise, NII growth, cost savings, healthy credit quality, and capital returns.
- MetLife, Inc.Sep 2026MetLife stands out for durable earnings growth, leading positions in benefits and retirement, strong free cash flow, and shareholder returns.