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

Key Points

• The Manufacturers Life Insurance Company increased its stake in Univest Corporation of Pennsylvania by 6.5% in the first quarter, owning 4.44% of the company valued at approximately $36.37 million.
• Univest Corporation reported $0.69 EPS for the last quarter, exceeding estimates, with a revenue of $81.04 million.
• The company recently announced a quarterly dividend of $0.22, giving it an annualized dividend yield of 2.8%.

The Manufacturers Life Insurance Company boosted its position in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282,311 shares of the financial services provider's stock after purchasing an additional 77,781 shares during the quarter. The Manufacturers Life Insurance Company owned about 4.44% of Univest Corporation of Pennsylvania worth $36,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Univest Corporation of Pennsylvania by 4.3% in 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 in the last quarter. American Century Companies Inc. raised 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 valued at $19,365,000 after buying an additional 50,469 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Univest Corporation of Pennsylvania by 189.8% during the 4th quarter. Ameriprise Financial Inc. now owns 398,475 shares of the financial services provider's stock valued at $11,759,000 after buying an additional 260,990 shares in the last quarter. Northern Trust Corp raised its position in shares of Univest Corporation of Pennsylvania by 2.8% during the 4th quarter. Northern Trust Corp now owns 339,290 shares of the financial services provider's stock valued at $10,012,000 after buying an additional 9,184 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Univest Corporation of Pennsylvania during the 1st quarter valued at $4,953,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Thomas M. Petro sold 9,000 shares of Univest Corporation of Pennsylvania stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $31.75, for a total value of $285,750.00. Following the transaction, the director owned 50,193 shares in the company, valued at $1,593,627.75. This trade represents a 15.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Univest Corporation of Pennsylvania Price Performance

Shares of Univest Corporation of Pennsylvania stock traded down $0.74 on Friday, hitting $31.18. 195,663 shares of the company traded hands, compared to its average volume of 93,395. The firm's 50-day simple moving average is $30.72 and its 200 day simple moving average is $29.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The company has a market cap of $898.30 million, a P/E ratio of 11.38 and a beta of 0.77. Univest Corporation of Pennsylvania has a 12-month low of $22.83 and a 12-month high of $32.86.

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, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $81.04 million for the quarter, compared to analysts' expectations of $79.50 million. Univest Corporation of Pennsylvania had a net margin of 15.71% and a return on equity of 8.92%. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, August 6th. Univest Corporation of Pennsylvania's dividend payout ratio (DPR) is presently 32.12%.

About Univest Corporation of Pennsylvania

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.