M&T Bank Corp Trims Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

M&T Bank Corp cut its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,130 shares of the financial services provider’s stock after selling 92 shares during the quarter. M&T Bank Corp’s holdings in Jones Lang LaSalle were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle during the first quarter valued at about $33,000. Western Pacific Wealth Management LP acquired a new stake in Jones Lang LaSalle in the 1st quarter valued at approximately $41,000. CIBC Private Wealth Group LLC lifted its stake in Jones Lang LaSalle by 25.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Jones Lang LaSalle by 356.3% during the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider’s stock worth $80,000 after buying an additional 253 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Jones Lang LaSalle by 39.9% in the first quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider’s stock valued at $91,000 after buying an additional 105 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $256.05 on Tuesday. The company has a market cap of $12.16 billion, a P/E ratio of 23.15 and a beta of 1.34. The firm has a fifty day moving average price of $237.75 and a 200 day moving average price of $246.32. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.17. Jones Lang LaSalle Incorporated has a 12 month low of $194.36 and a 12 month high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.29. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Jones Lang LaSalle had a return on equity of 10.37% and a net margin of 2.23%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. Sell-side analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew W. Poppink sold 275 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the completion of the transaction, the chief executive officer owned 10,297 shares in the company, valued at approximately $2,450,377.09. This represents a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Analyst Upgrades and Downgrades

JLL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Jones Lang LaSalle from $327.00 to $285.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. UBS Group lifted their price objective on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Citigroup reduced their target price on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Wall Street Zen downgraded shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods cut their price objective on Jones Lang LaSalle from $325.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.00.

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.