Beach Investment Management LLC. Purchases Shares of 7,786 Univest Corporation of Pennsylvania (NASDAQ:UVSP)

Beach Investment Management LLC. bought a new position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,786 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Univest Corporation of Pennsylvania during the first quarter worth about $181,000. Sei Investments Co. boosted its position in Univest Corporation of Pennsylvania by 33.7% in the second quarter. Sei Investments Co. now owns 9,868 shares of the financial services provider’s stock worth $296,000 after buying an additional 2,489 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Univest Corporation of Pennsylvania by 15.1% in the first quarter. Goldman Sachs Group Inc. now owns 13,428 shares of the financial services provider’s stock worth $348,000 after buying an additional 1,761 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Univest Corporation of Pennsylvania during the first quarter worth about $408,000. Finally, Russell Investments Group Ltd. boosted its position in Univest Corporation of Pennsylvania by 22.3% in the second quarter. Russell Investments Group Ltd. now owns 24,634 shares of the financial services provider’s stock worth $738,000 after buying an additional 4,484 shares in the last quarter. Hedge funds and other institutional investors own 63.13% of the company’s stock.

Shares of Univest Corporation of Pennsylvania (NASDAQ UVSP) opened at 29.45 on Thursday. The firm has a market capitalization of $785.25 million, a price-to-earnings ratio of 26.56 and a beta of 0.69. The stock’s 50 day moving average price is $30.03 and its 200-day moving average price is $28.63. Univest Corporation of Pennsylvania has a 52 week low of $22.03 and a 52 week high of $31.50.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $51.31 million for the quarter. Univest Corporation of Pennsylvania had a return on equity of 8.04% and a net margin of 13.95%. Equities analysts predict that Univest Corporation of Pennsylvania will post $1.77 earnings per share for the current year.

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A number of analysts have recently commented on UVSP shares. BidaskClub raised Univest Corporation of Pennsylvania from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine raised Univest Corporation of Pennsylvania from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.00 price target on shares of Univest Corporation of Pennsylvania in a research note on Thursday, July 27th.

In other news, Director Michael L. Turner sold 2,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $29.80, for a total transaction of $59,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.62% of the stock is currently owned by corporate insiders.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is the bank holding company of Univest Bank and Trust Co (the Bank). The Bank is a Pennsylvania state-chartered bank and trust company. The Company’s business segments include Banking, Wealth Management and Insurance. The Banking segment provides financial services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing.

Institutional Ownership by Quarter for Univest Corporation of Pennsylvania (NASDAQ:UVSP)

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