State of Michigan Retirement System Sells 300 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

State of Michigan Retirement System decreased its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,411 shares of the financial services provider’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Jones Lang LaSalle were worth $2,342,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Jones Lang LaSalle during the first quarter valued at about $30,000. Atlas Capital Advisors LLC purchased a new stake in Jones Lang LaSalle in the 1st quarter worth approximately $35,000. Riverview Trust Co bought a new position in shares of Jones Lang LaSalle during the first quarter valued at approximately $38,000. Mather Group LLC. boosted its holdings in Jones Lang LaSalle by 446.9% in the second quarter. Mather Group LLC. now owns 268 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 219 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Jones Lang LaSalle during the 1st quarter valued at $58,000. Institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Trading Down 2.0 %

Jones Lang LaSalle stock opened at $251.00 on Wednesday. Jones Lang LaSalle Incorporated has a 12 month low of $119.46 and a 12 month high of $261.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $229.13 and its two-hundred day simple moving average is $204.15. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 40.35 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.30 by $0.25. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.48 billion. Jones Lang LaSalle had a net margin of 1.42% and a return on equity of 6.55%. Jones Lang LaSalle’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. As a group, equities analysts predict that Jones Lang LaSalle Incorporated will post 12.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

JLL has been the topic of a number of research reports. UBS Group lifted their target price on shares of Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com downgraded Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Monday. Raymond James lifted their price target on Jones Lang LaSalle from $246.00 to $268.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods increased their price objective on Jones Lang LaSalle from $240.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Jones Lang LaSalle from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.33.

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.