Pzena Investment Management LLC Cuts Stake in Univest Corporation of Pennsylvania $UVSP

Pzena Investment Management LLC reduced its position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 842,425 shares of the financial services provider’s stock after selling 13,810 shares during the quarter. Pzena Investment Management LLC owned 3.00% of Univest Corporation of Pennsylvania worth $28,861,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of UVSP. UNIVEST FINANCIAL Corp grew its holdings in shares of Univest Corporation of Pennsylvania by 22.2% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock valued at $20,218,000 after buying an additional 112,203 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Univest Corporation of Pennsylvania by 359.9% during the first quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock valued at $3,397,000 after acquiring an additional 77,594 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Univest Corporation of Pennsylvania in the 4th quarter worth approximately $688,000. Assenagon Asset Management S.A. bought a new position in Univest Corporation of Pennsylvania in the 1st quarter valued at approximately $8,819,000. Finally, Global Retirement Partners LLC bought a new position in Univest Corporation of Pennsylvania in the 4th quarter valued at approximately $631,000. 75.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $4,521,086.83. This represents a 11.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 36,268 shares of company stock valued at $1,427,334. Corporate insiders own 1.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Wednesday, June 24th. Keefe, Bruyette & Woods upped their price target on 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.00.

Univest Corporation of Pennsylvania Stock Up 3.2%

UVSP opened at $45.15 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $40.05 and a 200-day moving average price of $36.27. Univest Corporation of Pennsylvania has a twelve month low of $27.91 and a twelve month high of $45.15. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 13.56 and a beta of 0.66.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $87.45 million for the quarter, compared to analysts’ expectations of $84.85 million. Equities research analysts forecast that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was 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 payout ratio is currently 27.63%.

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.