Insider Selling: Jones Lang LaSalle (NYSE:JLL) CEO Sells $1,651,200.00 in Stock

Jones Lang LaSalle Incorporated (NYSE:JLL) CEO Christian Ulbrich sold 5,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $330.24, for a total value of $1,651,200.00. Following the completion of the transaction, the chief executive officer directly owned 129,445 shares of the company’s stock, valued at approximately $42,747,916.80. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Christian Ulbrich also recently made the following trade(s):

• On Friday, November 28th, Christian Ulbrich sold 240 shares of Jones Lang LaSalle stock. The stock was sold at an average price of $330.01, for a total transaction of $79,202.40.
• On Tuesday, November 25th, Christian Ulbrich sold 5,000 shares of Jones Lang LaSalle stock. The shares were sold at an average price of $330.33, for a total transaction of $1,651,650.00.

Jones Lang LaSalle Stock Down 0.1%

JLL stock opened at $327.26 on Monday. The firm’s 50-day moving average is $305.47 and its two-hundred day moving average is $282.24. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 25.10 and a beta of 1.44. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $335.83. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.13.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.26. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.49 billion. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $3.50 earnings per share. On average, analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jones Lang LaSalle

A number of institutional investors have recently bought and sold shares of JLL. Norges Bank purchased a new stake in Jones Lang LaSalle in the 2nd quarter worth approximately $160,187,000. Swedbank AB increased its stake in shares of Jones Lang LaSalle by 115.0% in the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider’s stock worth $239,960,000 after acquiring an additional 501,716 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Jones Lang LaSalle by 21.0% during the second quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock worth $568,222,000 after acquiring an additional 386,184 shares in the last quarter. Select Equity Group L.P. boosted its position in Jones Lang LaSalle by 50.7% during the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider’s stock valued at $263,298,000 after purchasing an additional 357,469 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Jones Lang LaSalle by 4,285.3% in the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock valued at $104,643,000 after purchasing an additional 342,821 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. UBS Group boosted their price target on shares of Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. raised their price objective on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jones Lang LaSalle in a report on Wednesday, October 8th. Finally, Barclays began coverage on shares of Jones Lang LaSalle in a research note on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $342.14.

About Jones Lang LaSalle

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.