State of Tennessee Department of Treasury Takes Position in Univest Financial Co. (NASDAQ:UVSP)

State of Tennessee Department of Treasury acquired a new position in shares of Univest Financial Co. (NASDAQ:UVSP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,284 shares of the financial services provider's stock, valued at approximately $244,000.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Univest Financial by 12.7% during the fourth quarter. American Century Companies Inc. now owns 632,354 shares of the financial services provider's stock worth $18,661,000 after acquiring an additional 71,265 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Univest Financial by 1.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 239,059 shares of the financial services provider's stock valued at $7,055,000 after purchasing an additional 3,769 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Univest Financial by 23.0% during the fourth quarter. Prudential Financial Inc. now owns 173,024 shares of the financial services provider's stock worth $5,106,000 after buying an additional 32,400 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Univest Financial by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 152,028 shares of the financial services provider's stock worth $4,486,000 after buying an additional 807 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Univest Financial by 34.4% in the 4th quarter. JPMorgan Chase & Co. now owns 139,102 shares of the financial services provider's stock valued at $4,105,000 after buying an additional 35,571 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company's stock.

Univest Financial Trading Up 0.1 %

Univest Financial stock opened at $30.55 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day moving average of $28.26 and a 200-day moving average of $29.52. The company has a market cap of $886.01 million, a price-to-earnings ratio of 11.80 and a beta of 0.73. Univest Financial Co. has a one year low of $20.37 and a one year high of $32.75.

Univest Financial (NASDAQ:UVSP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. The firm had revenue of $79.20 million during the quarter, compared to the consensus estimate of $77.65 million. Univest Financial had a return on equity of 8.51% and a net margin of 15.17%. On average, equities analysts expect that Univest Financial Co. will post 2.36 earnings per share for the current fiscal year.

Univest Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.88%. This is an increase from Univest Financial's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 7th. Univest Financial's payout ratio is presently 32.96%.

Wall Street Analysts Forecast Growth

Separately, Stephens reaffirmed an "equal weight" rating and set a $31.00 price target on shares of Univest Financial in a research note on Thursday, January 23rd.

Insiders Place Their Bets

In other news, Director Anne Vazquez bought 1,250 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of $28.63 per share, with a total value of $35,787.50. Following the acquisition, the director now owns 6,250 shares in the company, valued at $178,937.50. This trade represents a 25.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company's stock.

About Univest Financial

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.

Want to see what other hedge funds are holding UVSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Univest Financial Co. (NASDAQ:UVSP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.