The Manufacturers Life Insurance Company Cuts Stake in Univest Corporation of Pennsylvania $UVSP

The Manufacturers Life Insurance Company lessened its stake in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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’s holdings in Univest Corporation of Pennsylvania were worth $37,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in Univest Corporation of Pennsylvania during the 2nd quarter worth approximately $42,000. Geneos Wealth Management Inc. grew its position in Univest Corporation of Pennsylvania by 545.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 2,252 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in Univest Corporation of Pennsylvania in the second quarter valued at approximately $91,000. Tower Research Capital LLC TRC raised its stake in shares of Univest Corporation of Pennsylvania by 69.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 1,324 shares during the period. Finally, Mariner LLC purchased a new stake in shares of Univest Corporation of Pennsylvania during the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research upgraded 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 note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.50.

Univest Corporation of Pennsylvania Trading Down 0.5%

UVSP opened at $44.40 on Friday. The stock has a market capitalization of $1.22 billion, a PE ratio of 12.83 and a beta of 0.66. The firm’s fifty day moving average price is $42.57 and its 200 day moving average price is $37.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. Univest Corporation of Pennsylvania has a 12-month low of $27.91 and a 12-month high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company 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 expect that Univest Corporation of Pennsylvania will post 3.67 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Brian J. Richardson sold 2,090 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.90, for a total value of $85,481.00. Following the completion of the sale, the chief financial officer directly owned 24,228 shares in the company, valued at approximately $990,925.20. The trade was a 7.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the sale, the chief operating officer directly owned 66,979 shares in the company, valued at approximately $2,592,757.09. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,268 shares of company stock valued at $935,934 in the last quarter. Insiders own 1.83% of the company’s stock.

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.