Allianz Asset Management GmbH Sells 53,047 Shares of Jones Lang LaSalle Incorporated $JLL

Allianz Asset Management GmbH lessened its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 19.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,440 shares of the financial services provider’s stock after selling 53,047 shares during the quarter. Allianz Asset Management GmbH owned about 0.48% of Jones Lang LaSalle worth $67,543,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC lifted its holdings in shares of Jones Lang LaSalle by 33.0% during the 3rd quarter. Chilton Capital Management LLC now owns 133 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 33 shares during the period. Southeast Asset Advisors LLC lifted its stake in Jones Lang LaSalle by 0.7% during the second quarter. Southeast Asset Advisors LLC now owns 5,530 shares of the financial services provider’s stock worth $1,414,000 after purchasing an additional 39 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Jones Lang LaSalle by 2.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,376 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 47 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Jones Lang LaSalle by 6.7% in the 3rd quarter. HB Wealth Management LLC now owns 844 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 53 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Jones Lang LaSalle by 3.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,607 shares of the financial services provider’s stock worth $479,000 after buying an additional 57 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JLL has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Jones Lang LaSalle from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. UBS Group increased their price objective on shares of Jones Lang LaSalle from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Thursday, January 22nd. Wall Street Zen upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Finally, The Goldman Sachs Group boosted their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of “Hold” and an average price target of $364.17.

Jones Lang LaSalle Stock Performance

NYSE JLL opened at $333.35 on Thursday. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of 25.56 and a beta of 1.42. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $363.06. The stock has a fifty day simple moving average of $341.52 and a 200 day simple moving average of $312.79. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.26. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 earnings per share. Sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 96 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $332.18, for a total transaction of $31,889.28. Following the completion of the sale, the chief executive officer directly owned 114,685 shares in the company, valued at $38,096,063.30. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $6,609,091. Corporate insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Profile

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.