In the third quarter, Meritage Portfolio Management trimmed its position in JPMorgan Chase & Co. by 8.7%, selling 5,129 shares and ending the period with 53,824 shares, representing 1.1% of its total portfolio and the firm’s 12th largest holding. The position was valued at $16.98 million at quarter end. Other managers made notable moves: Harbor Asset Planning established a new $26,000 stake; Mizuho Securities increased its holding by 450%, adding 90 shares; Mountain Hill Investment Partners opened a $32,000 position; Family Legacy Financial Solutions boosted its stake by 92.6%, acquiring 50 additional shares; and Clarity Asset Management grew its position by 87.1%, buying 101 shares. Overall, institutional ownership stands at 71.55% of the company’s outstanding shares.

For the quarter ended January 13, the firm reported earnings per share of $5.23, surpassing analyst consensus by $0.30, and achieved revenue of $46.77 billion, beating expectations by $0.79 billion and marking a 7.1% year-over-year increase. Return on equity reached 17.16% and net margin 20.35%. Compared to the prior year’s $4.81 per share, the results underscore continued growth across core businesses. Analysts now anticipate full-year earnings of $18.10 per share.

The board declared a quarterly dividend of $1.50 per share, payable January 31 to shareholders of record January 6, implying an annualized payout of $6.00 and a yield of 2.0%. The dividend payout ratio stands at 29.99%, reflecting the firm’s commitment to returning capital while preserving capital for strategic investments and balance-sheet strength.

In mid-January, General Counsel Stacey Friedman sold 3,404 shares at an average price of $312.80, and Chief Operating Officer Jennifer Piepszak disposed of 8,571 shares at $312.79 each. These transactions reduced Friedman’s stake by 4.95% and Piepszak’s by 10.77%. Over the last quarter, insiders sold a total of 15,834 shares valued at $4.95 million. Following these sales, insiders collectively own 0.47% of the company’s shares.