Equity Investment Corp decreased its stake in Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) by 98.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,225 shares of the financial services provider’s stock after selling 256,289 shares during the period. Equity Investment Corp’s holdings in Jones Lang LaSalle were worth $1,596,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC lifted its holdings in shares of Jones Lang LaSalle by 9.8% in the third quarter. New York Life Investment Management LLC now owns 6,659 shares of the financial services provider’s stock valued at $2,034,000 after purchasing an additional 593 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Jones Lang LaSalle by 5.3% during the 3rd quarter. Retirement Systems of Alabama now owns 97,399 shares of the financial services provider’s stock worth $29,757,000 after purchasing an additional 4,871 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Jones Lang LaSalle during the 3rd quarter worth approximately $520,000. Brighton Jones LLC raised its position in shares of Jones Lang LaSalle by 6.1% during the 3rd quarter. Brighton Jones LLC now owns 960 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 55 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Jones Lang LaSalle by 0.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 7,271 shares of the financial services provider’s stock worth $2,221,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.
Jones Lang LaSalle Trading Down 1.4%
Shares of JLL opened at $374.80 on Wednesday. The stock has a fifty day moving average of $330.71 and a two-hundred day moving average of $325.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.43 and a current ratio of 2.43. The company has a market capitalization of $17.12 billion, a PE ratio of 16.22 and a beta of 1.29. Jones Lang LaSalle Incorporated has a fifty-two week low of $259.83 and a fifty-two week high of $395.79.
Jones Lang LaSalle (NYSE:JLL – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share for the quarter, topping analysts’ consensus estimates of $6.15 by $0.61. Jones Lang LaSalle had a return on equity of 15.05% and a net margin of 3.89%. The company had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter in the prior year, the company posted $4.50 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Jones Lang LaSalle Incorporated will post 25.16 EPS for the current year.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Keefe, Bruyette & Woods cut their target price on shares of Jones Lang LaSalle from $415.00 to $385.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Sunday. Barclays upped their target price on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. Finally, Zacks Research cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $427.60.
Get Our Latest Stock Report on Jones Lang LaSalle
Insider Activity at Jones Lang LaSalle
In related news, CEO Christian Ulbrich sold 2,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the transaction, the chief executive officer directly owned 138,418 shares in the company, valued at approximately $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,000 shares of company stock valued at $2,271,060 over the last ninety days. 0.91% of the stock is owned by insiders.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated, commonly known as JLL, is a global commercial real estate services and investment management company. It advises businesses, property owners, investors and public-sector organizations on real estate decisions and operations. Its services include leasing and sales, property and facilities management, project and development management, valuation, workplace consulting and capital markets advisory. Through LaSalle Investment Management, JLL also manages real estate investments for institutional and other clients.
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