Principal Financial Group Inc. Makes New Investment in Univest Corporation of Pennsylvania $UVSP

Key Points

• Principal Financial Group acquired 36,361 shares of Univest Corporation of Pennsylvania in the first quarter, valued at approximately $1.25 million. Institutional investors collectively own 75.07% of UVSP.
• Univest’s CEO and COO sold a combined 21,178 shares in recent transactions, while insiders sold 23,268 shares worth roughly $936,000 over the past 90 days.
• UVSP recently reported quarterly EPS of $0.82, below the $0.87 consensus estimate, but revenue exceeded expectations. The company declared a quarterly dividend of $0.23, equivalent to a 2.1% annualized yield, and analysts maintain a consensus “Buy” rating.

Principal Financial Group Inc. acquired a new position in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,361 shares of the financial services provider's stock, valued at approximately $1,246,000. Principal Financial Group Inc. owned about 0.13% of Univest Corporation of Pennsylvania as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in UVSP. Russell Investments Group Ltd. purchased a new position in Univest Corporation of Pennsylvania in the 2nd quarter worth $42,000. Geneos Wealth Management Inc. lifted its stake 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 worth $76,000 after purchasing an additional 2,252 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in Univest Corporation of Pennsylvania during the second quarter valued at about $91,000. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 1,324 shares during the period. Finally, Mariner LLC purchased a new stake in Univest Corporation of Pennsylvania during the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 75.07% of the company's stock.

Insider Transactions at Univest Corporation of Pennsylvania

In related news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $40.91, for a total value of $569,999.03. Following the completion of the transaction, the chief executive officer directly owned 110,513 shares of the company's stock, valued at $4,521,086.83. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael S. Keim sold 7,245 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total transaction of $280,453.95. Following the completion of the sale, the chief operating officer owned 66,979 shares of the company's stock, valued at $2,592,757.09. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,268 shares of company stock valued at $935,934. Company insiders own 1.83% of the company's stock.

Univest Corporation of Pennsylvania Price Performance

Shares of UVSP stock opened at $44.40 on Friday. The firm has a market cap of $1.22 billion, a P/E ratio of 12.83 and a beta of 0.66. Univest Corporation of Pennsylvania has a fifty-two week low of $27.91 and a fifty-two week high of $45.46. The business's 50 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 quick ratio of 1.02 and a current ratio of 1.02.

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

Univest Corporation of Pennsylvania Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Univest Corporation of Pennsylvania's dividend payout ratio is 26.59%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research upgraded Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on 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. Finally, Weiss Ratings upgraded Univest Corporation of Pennsylvania from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. 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 data from MarketBeat.com, Univest Corporation of Pennsylvania currently has a consensus rating of "Buy" and an average 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.

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