Ritholtz Wealth Management Sells 1,738 Shares of Jones Lang LaSalle Incorporated $JLL

Ritholtz Wealth Management trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 62.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,032 shares of the financial services provider’s stock after selling 1,738 shares during the period. Ritholtz Wealth Management’s holdings in Jones Lang LaSalle were worth $264,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in JLL. Golden State Wealth Management LLC bought a new stake in Jones Lang LaSalle in the first quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Jones Lang LaSalle by 322.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Jones Lang LaSalle in the first quarter worth $38,000. Brooklyn Investment Group lifted its stake in shares of Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider’s stock worth $80,000 after buying an additional 189 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Jones Lang LaSalle by 30.4% in the first quarter. Covestor Ltd now owns 335 shares of the financial services provider’s stock worth $83,000 after buying an additional 78 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JLL has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Sunday, August 31st. Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a “market perform” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.29.

Jones Lang LaSalle Price Performance

NYSE:JLL opened at $309.85 on Wednesday. The stock has a market cap of $14.68 billion, a P/E ratio of 26.64 and a beta of 1.39. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $322.36. The company has a fifty day moving average price of $302.08 and a 200 day moving average price of $261.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.20 by $0.10. The firm had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.17 billion. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 EPS. Analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.