Wedge Capital Management L L P NC Has $674,000 Position in Univest Financial Co. (NASDAQ:UVSP)

Wedge Capital Management L L P NC lessened its stake in shares of Univest Financial Co. (NASDAQ:UVSP) by 14.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,963 shares of the financial services provider’s stock after selling 4,129 shares during the quarter. Wedge Capital Management L L P NC owned about 0.08% of Univest Financial worth $674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Univest Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,571,213 shares of the financial services provider’s stock valued at $32,713,000 after purchasing an additional 19,307 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Univest Financial by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,210,351 shares of the financial services provider’s stock valued at $27,632,000 after acquiring an additional 12,401 shares in the last quarter. American Century Companies Inc. increased its position in Univest Financial by 21.0% during the second quarter. American Century Companies Inc. now owns 482,089 shares of the financial services provider’s stock worth $11,006,000 after acquiring an additional 83,599 shares during the period. Leeward Investments LLC MA raised its stake in Univest Financial by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 404,942 shares of the financial services provider’s stock worth $9,245,000 after purchasing an additional 21,550 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Univest Financial by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 174,115 shares of the financial services provider’s stock valued at $3,975,000 after purchasing an additional 6,724 shares during the period. Institutional investors own 75.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on UVSP. Piper Sandler raised their target price on shares of Univest Financial from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price objective (up from $23.00) on shares of Univest Financial in a report on Friday, July 26th.

Univest Financial Price Performance

UVSP stock opened at $28.61 on Friday. The company’s 50-day moving average price is $27.46 and its two-hundred day moving average price is $24.23. The firm has a market cap of $837.47 million, a P/E ratio of 11.97 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Univest Financial Co. has a 12 month low of $16.10 and a 12 month high of $29.49.

Univest Financial (NASDAQ:UVSP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $120.81 million for the quarter, compared to analysts’ expectations of $72.50 million. Univest Financial had a net margin of 14.91% and a return on equity of 8.23%. During the same period last year, the firm posted $0.61 earnings per share. On average, analysts anticipate that Univest Financial Co. will post 2.31 earnings per share for the current fiscal year.

Univest Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.94%. Univest Financial’s dividend payout ratio is currently 35.15%.

Insider Activity at Univest Financial

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 4,541 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $28.75, for a total transaction of $130,553.75. Following the completion of the transaction, the chief executive officer now owns 90,187 shares of the company’s stock, valued at approximately $2,592,876.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.50, for a total transaction of $34,200.00. Following the sale, the chief executive officer now owns 90,187 shares in the company, valued at $2,570,329.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 4,541 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $28.75, for a total value of $130,553.75. Following the completion of the transaction, the chief executive officer now owns 90,187 shares of the company’s stock, valued at $2,592,876.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,389 shares of company stock valued at $412,352 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Univest Financial Company Profile

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.