Univest Financial Co. (NASDAQ:UVSP) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in Univest Financial Co. (NASDAQ:UVSP) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 659,289 shares of the financial services provider’s stock after selling 900 shares during the period. Renaissance Technologies LLC owned about 2.26% of Univest Financial worth $15,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of UVSP. Charles Schwab Investment Management Inc. boosted its holdings in shares of Univest Financial by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 303,331 shares of the financial services provider’s stock valued at $6,682,000 after buying an additional 2,784 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Univest Financial by 307.7% in the 4th quarter. Parallel Advisors LLC now owns 2,271 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,714 shares during the period. The Manufacturers Life Insurance Company lifted its position in Univest Financial by 8.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,197,934 shares of the financial services provider’s stock valued at $26,390,000 after purchasing an additional 98,009 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Univest Financial by 95.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,281 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 2,094 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Univest Financial by 10.7% in the 1st quarter. BNP Paribas Financial Markets now owns 19,713 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 1,909 shares during the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Univest Financial Stock Down 2.5 %

UVSP stock opened at $28.47 on Friday. Univest Financial Co. has a 52 week low of $16.10 and a 52 week high of $29.49. The company has a market capitalization of $833.37 million, a price-to-earnings ratio of 11.91 and a beta of 0.85. The firm’s 50-day moving average is $27.26 and its two-hundred day moving average is $23.27. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.17.

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

Univest Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.95%. Univest Financial’s dividend payout ratio (DPR) is 35.15%.

Insiders Place Their Bets

In other Univest Financial news, COO Michael S. Keim sold 3,633 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $104,485.08. Following the sale, the chief operating officer now directly owns 55,679 shares in the company, valued at approximately $1,601,328.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Michael S. Keim sold 3,633 shares of Univest Financial stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $28.76, for a total value of $104,485.08. Following the transaction, the chief operating officer now owns 55,679 shares of the company’s stock, valued at approximately $1,601,328.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey M. Schweitzer sold 4,541 shares of Univest Financial stock in a transaction that occurred on 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 directly owns 90,187 shares in the company, valued at approximately $2,592,876.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,389 shares of company stock worth $412,352. 2.10% of the stock is owned by corporate insiders.

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.