SG Americas Securities LLC Buys 77,594 Shares of Univest Corporation of Pennsylvania $UVSP

Key Points

• SG Americas Securities LLC boosted its stake in Univest Corporation of Pennsylvania by 359.9% in Q1, buying 77,594 additional shares and bringing its holding to 99,155 shares worth about $3.4 million.
• Univest reported better-than-expected quarterly results, with EPS of $0.96 versus the $0.84 estimate and revenue of $87.45 million versus $84.85 million expected.
• The company also raised its quarterly dividend to $0.23 per share from $0.22, while analysts currently have a consensus Hold rating and a $37 target price.

SG Americas Securities LLC increased its stake in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 359.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,155 shares of the financial services provider's stock after purchasing an additional 77,594 shares during the period. SG Americas Securities LLC owned approximately 0.35% of Univest Corporation of Pennsylvania worth $3,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Univest Corporation of Pennsylvania by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider's stock worth $487,000 after buying an additional 703 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Univest Corporation of Pennsylvania by 4.2% in the 1st quarter. Empowered Funds LLC now owns 102,517 shares of the financial services provider's stock valued at $2,907,000 after acquiring an additional 4,087 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Univest Corporation of Pennsylvania in the 1st quarter valued at about $1,467,000. Geneos Wealth Management Inc. raised its position in shares of 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 valued at $76,000 after acquiring an additional 2,252 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Univest Corporation of Pennsylvania by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider's stock valued at $920,000 after acquiring an additional 2,291 shares during the period. Institutional investors own 75.07% of the company's stock.

Univest Corporation of Pennsylvania Stock Performance

Shares of UVSP opened at $43.75 on Wednesday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.14 and a beta of 0.67. Univest Corporation of Pennsylvania has a 12 month low of $27.91 and a 12 month high of $44.78. The firm has a fifty day simple moving average of $39.89 and a 200 day simple moving average of $36.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. The firm had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. Research analysts forecast that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 6th. This is a boost from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.1%. Univest Corporation of Pennsylvania's dividend payout ratio is currently 27.63%.

Insider Buying and Selling

In related news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.91, for a total transaction 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 approximately $4,521,086.83. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Natalye Paquin sold 13,000 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the transaction, the director owned 17,004 shares of the company's stock, valued at approximately $642,751.20. This represents a 43.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 36,268 shares of company stock worth $1,427,334. Insiders own 1.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Univest Corporation of Pennsylvania currently has a consensus rating of "Hold" and a consensus target price of $37.00.

Univest Corporation of Pennsylvania 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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