MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 428,589 Shares of Unilever PLC (NYSE:UL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in Unilever PLC (NYSE:UL) by 38.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 686,647 shares of the company’s stock after selling 428,589 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Unilever were worth $44,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Red Tortoise LLC purchased a new stake in Unilever during the first quarter worth about $26,000. ST Germain D J Co. Inc. increased its stake in shares of Unilever by 423.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock worth $29,000 after purchasing an additional 428 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Unilever by 393.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 533 shares of the company’s stock worth $29,000 after purchasing an additional 425 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Unilever in the second quarter valued at approximately $30,000. Finally, Quent Capital LLC purchased a new position in Unilever in the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 9.67% of the company’s stock.

Unilever Stock Performance

UL stock opened at $62.79 on Monday. The firm has a 50 day moving average of $63.50 and a 200-day moving average of $57.33. Unilever PLC has a 12 month low of $46.16 and a 12 month high of $65.87.

Unilever Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 9th were issued a $0.4773 dividend. This represents a $1.91 annualized dividend and a yield of 3.04%. This is an increase from Unilever’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, August 9th.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UL shares. TD Cowen started coverage on Unilever in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 target price on the stock. Bank of America upgraded Unilever from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $72.00 in a research note on Thursday, August 22nd. UBS Group upgraded shares of Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded shares of Unilever from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.75.

About Unilever

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.