Vanguard Group Inc. Sells 78,925 Shares of Univest Corporation of Pennsylvania $UVSP

Key Points

• Vanguard Group trimmed its Univest Corporation of Pennsylvania stake by 4.5% in the fourth quarter, selling 78,925 shares and leaving it with 1,663,013 shares valued at about $54.4 million.
• Univest reported stronger-than-expected quarterly results, posting EPS of $0.96 versus estimates of $0.84 and revenue of $87.45 million versus expectations of $84.85 million.
• The company raised its quarterly dividend to $0.23 per share from $0.22, implying a 2.4% annualized yield, while analysts currently maintain a Hold consensus with an average price target of $37.00.

Vanguard Group Inc. lessened its stake in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,663,013 shares of the financial services provider's stock after selling 78,925 shares during the period. Vanguard Group Inc. owned 5.84% of Univest Corporation of Pennsylvania worth $54,447,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Univest Corporation of Pennsylvania by 15.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider's stock worth $44,335,000 after purchasing an additional 193,561 shares during the last quarter. Pzena Investment Management LLC raised its position in Univest Corporation of Pennsylvania by 0.3% in the 3rd quarter. Pzena Investment Management LLC now owns 890,902 shares of the financial services provider's stock worth $26,745,000 after purchasing an additional 2,693 shares during the last quarter. UNIVEST FINANCIAL Corp raised its position in Univest Corporation of Pennsylvania by 0.5% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 505,323 shares of the financial services provider's stock worth $15,170,000 after purchasing an additional 2,323 shares during the last quarter. Sei Investments Co. raised its position in Univest Corporation of Pennsylvania by 17.3% in the 3rd quarter. Sei Investments Co. now owns 229,183 shares of the financial services provider's stock worth $6,878,000 after purchasing an additional 33,772 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Univest Corporation of Pennsylvania by 4.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 214,185 shares of the financial services provider's stock worth $6,430,000 after purchasing an additional 8,374 shares during the last quarter. Institutional investors own 75.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on UVSP shares. Keefe, Bruyette & Woods boosted their price objective on shares of Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Weiss Ratings restated a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.00.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $37.80, for a total transaction of $491,400.00. Following the completion of the sale, the director owned 17,004 shares in the company, valued at approximately $642,751.20. The trade was a 43.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total transaction of $280,453.95. Following the sale, the chief operating officer owned 66,979 shares of the company's stock, valued at $2,592,757.09. The trade was a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.83% of the company's stock.

Univest Corporation of Pennsylvania Stock Performance

Shares of Univest Corporation of Pennsylvania stock opened at $37.63 on Friday. The firm has a fifty day moving average of $35.76 and a two-hundred day moving average of $33.96. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 11.30 and a beta of 0.67. Univest Corporation of Pennsylvania has a 52 week low of $27.91 and a 52 week high of $39.06. 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 issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The company had revenue of $87.45 million during the quarter, compared to analysts' expectations of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. As a group, equities research analysts predict that Univest Corporation of Pennsylvania will post 3.6 EPS for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania's dividend payout ratio is presently 27.63%.

About Univest Corporation of Pennsylvania

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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