In its most recent SEC filing, Meritage Portfolio Management announced it sold 5,129 shares of JPMorgan Chase & Co. during the third quarter, trimming its stake by 8.7%. Following the sale, the firm held 53,824 shares, representing 1.1% of its overall portfolio and ranking JPMorgan as its 12th largest holding. At the end of the reporting period, Meritage’s remaining position in JPMorgan was valued at $16.98 million.

Several other hedge funds and institutional investors also adjusted their positions during the same period. Harbor Asset Planning initiated a new position of approximately $26,000, while Mizuho Securities increased its holding by 450%, ending the quarter with 110 shares. Mountain Hill Investment Partners and Family Legacy Financial Solutions added stakes worth roughly $32,000 and $33,000 respectively. Clarity Asset Management lifted its position by 87.1% to 217 shares valued at $63,000. Collectively, hedge funds and institutional investors hold 71.55% of JPMorgan’s shares.

JPMorgan reported fourth-quarter earnings of $5.23 per share, surpassing consensus estimates by $0.30, on revenue of $46.77 billion, a 7.1% year-over-year increase. The bank achieved a return on equity of 17.16% and net margin of 20.35%. Management declared a quarterly dividend of $1.50 per share, payable January 31 to shareholders of record as of January 6, representing an annualized payout of $6.00 and a dividend payout ratio of 29.99%. Analysts project full-year EPS of 18.10.

In mid-January filings, General Counsel Stacey Friedman reported the sale of 3,404 shares for proceeds of $1.06 million, reducing her holdings to 65,353 shares. COO Jennifer Piepszak sold 8,571 shares for a total of $2.68 million, bringing her stake to 71,027 shares. Insider sales during the quarter totaled 15,834 shares valued at $4.95 million, with insiders now owning 0.47% of the company’s outstanding shares.