The Manufacturers Life Insurance Company Trims Position in Univest Corporation of Pennsylvania $UVSP

The Manufacturers Life Insurance Company decreased its holdings in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,095,555 shares of the financial services provider’s stock after selling 99,920 shares during the quarter. The Manufacturers Life Insurance Company owned about 3.93% of Univest Corporation of Pennsylvania worth $37,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in Univest Corporation of Pennsylvania in the second quarter valued at $42,000. Geneos Wealth Management Inc. boosted its stake in Univest Corporation of Pennsylvania by 545.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after buying an additional 2,252 shares during the last quarter. Osaic Holdings Inc. acquired a new stake in Univest Corporation of Pennsylvania in the 2nd quarter worth about $91,000. Tower Research Capital LLC TRC grew its holdings in Univest Corporation of Pennsylvania by 69.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,324 shares during the period. Finally, Mariner LLC purchased a new stake in Univest Corporation of Pennsylvania in the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Insider Buying and Selling

In other Univest Corporation of Pennsylvania news, CEO Jeffrey M. Schweitzer sold 13,933 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $40.91, for a total transaction of $569,999.03. Following the transaction, the chief executive officer directly owned 110,513 shares of the company’s stock, valued at $4,521,086.83. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total transaction of $280,453.95. Following the sale, the chief operating officer owned 66,979 shares of the company’s stock, valued at approximately $2,592,757.09. This represents a 9.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,268 shares of company stock valued at $935,934. 1.83% of the stock is currently owned by corporate insiders.

Univest Corporation of Pennsylvania Price Performance

Shares of Univest Corporation of Pennsylvania stock opened at $44.40 on Friday. The business’s fifty day moving average price is $42.57 and its 200 day moving average price is $37.84. Univest Corporation of Pennsylvania has a twelve month low of $27.91 and a twelve month high of $45.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.22 billion, a P/E ratio of 12.83 and a beta of 0.66.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $89.59 million for the quarter, compared to analyst estimates of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%. As a group, research analysts anticipate that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Univest Corporation of Pennsylvania’s payout ratio is presently 26.59%.

Analyst Ratings Changes

UVSP has been the subject of a number of research analyst reports. Zacks Research raised shares of Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Weiss Ratings raised shares of Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.50.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is a financial holding company headquartered in Souderton, Pennsylvania, operating through its primary subsidiary, Univest Bank and Trust Co The company offers a comprehensive range of banking services, including commercial and consumer lending, deposit products, mortgage banking, treasury and payment solutions, and wealth management services. Through its community banking model, Univest serves individuals, small to middle-market businesses, and nonprofit and public institutions.

Founded in 1893 as Souderton Industrial Savings Association, Univest has grown through a combination of organic expansion and targeted acquisitions.