Northern Trust Corp Sells 9,299 Shares of Univest Corporation of Pennsylvania $UVSP

Key Points

• Northern Trust Corp reduced its stake in Univest Corporation, selling 9,299 shares, resulting in ownership of 329,991 shares valued at approximately $9.36 million.
• Shares of Univest Corporation recently traded down by 2.3%, opening at $31.18, with a market cap of $898.30 million and a dividend yield of 2.8%.
• The company reported earnings of $0.69 per share for its last quarterly earnings, surpassing expectations and forecasting a projected EPS of 2.36 for the current fiscal year.

Northern Trust Corp lowered its stake in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 329,991 shares of the financial services provider's stock after selling 9,299 shares during the period. Northern Trust Corp owned approximately 1.14% of Univest Corporation of Pennsylvania worth $9,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in UVSP. State of New Jersey Common Pension Fund D lifted its position in shares of Univest Corporation of Pennsylvania by 3.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 89,764 shares of the financial services provider's stock worth $2,546,000 after purchasing an additional 2,692 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Univest Corporation of Pennsylvania by 8.0% during the 1st quarter. American Century Companies Inc. now owns 682,823 shares of the financial services provider's stock worth $19,365,000 after purchasing an additional 50,469 shares during the last quarter. Nuveen LLC acquired a new position in shares of Univest Corporation of Pennsylvania during the 1st quarter worth about $3,384,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Univest Corporation of Pennsylvania by 8.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,792 shares of the financial services provider's stock worth $760,000 after purchasing an additional 2,070 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Univest Corporation of Pennsylvania by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,695,235 shares of the financial services provider's stock worth $48,077,000 after purchasing an additional 69,462 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company's stock.

Insider Transactions at Univest Corporation of Pennsylvania

In related news, Director Thomas M. Petro sold 9,000 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $31.75, for a total transaction of $285,750.00. Following the transaction, the director directly owned 50,193 shares in the company, valued at $1,593,627.75. The trade was a 15.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Univest Corporation of Pennsylvania Stock Performance

Shares of NASDAQ UVSP traded up $0.25 during trading hours on Thursday, hitting $31.29. 102,795 shares of the company's stock were exchanged, compared to its average volume of 98,875. Univest Corporation of Pennsylvania has a 1-year low of $22.83 and a 1-year high of $32.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $901.46 million, a price-to-earnings ratio of 11.42 and a beta of 0.77. The company's 50-day moving average price is $30.72 and its 200-day moving average price is $29.64.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Univest Corporation of Pennsylvania had a return on equity of 8.92% and a net margin of 15.71%.The business had revenue of $81.04 million during the quarter, compared to analysts' expectations of $79.50 million. On average, sell-side analysts expect that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, August 6th. Univest Corporation of Pennsylvania's payout ratio is currently 32.12%.

Univest Corporation of Pennsylvania Company Profile

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in the United States. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment offers a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.