JPMorgan Chase & Co. Sells 7,871 Shares of Jones Lang LaSalle Incorporated $JLL

JPMorgan Chase & Co. trimmed its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,696 shares of the financial services provider’s stock after selling 7,871 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of Jones Lang LaSalle worth $41,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. raised its position in 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 valued at $568,222,000 after purchasing an additional 386,184 shares during the period. Swedbank AB increased its position in shares of Jones Lang LaSalle by 5.4% during the 3rd quarter. Swedbank AB now owns 989,199 shares of the financial services provider’s stock valued at $295,058,000 after purchasing an additional 51,050 shares during the last quarter. Norges Bank purchased a new stake in Jones Lang LaSalle during the 2nd quarter valued at $160,187,000. Alliancebernstein L.P. lifted its position in Jones Lang LaSalle by 5.2% in the third quarter. Alliancebernstein L.P. now owns 598,980 shares of the financial services provider’s stock worth $178,664,000 after buying an additional 29,560 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in Jones Lang LaSalle by 8.8% during the third quarter. Bamco Inc. NY now owns 564,097 shares of the financial services provider’s stock worth $168,259,000 after buying an additional 45,733 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JLL. Keefe, Bruyette & Woods reduced their target price on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings raised shares of Jones Lang LaSalle from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. The Goldman Sachs Group increased their price objective on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Barclays decreased their price objective on shares of Jones Lang LaSalle from $360.00 to $355.00 and set an “equal weight” rating for the company in a research note on Friday, March 13th. Finally, Zacks Research raised Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and an average price target of $363.17.

Jones Lang LaSalle Trading Down 2.1%

Shares of JLL opened at $293.77 on Friday. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 17.90 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23. Jones Lang LaSalle Incorporated has a 1-year low of $194.36 and a 1-year high of $363.06. The company has a 50-day moving average of $323.21 and a 200 day moving average of $318.13.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $8.71 EPS for the quarter, topping analysts’ consensus estimates of $7.25 by $1.46. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The business had revenue of $7.61 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the firm earned $6.15 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, Director Deborah H. Mcaneny sold 2,500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the transaction, the director directly owned 14,985 shares in the company, valued at $4,502,992.50. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is currently owned by company insiders.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.