Bessemer Group Inc. Reduces Holdings in Jones Lang LaSalle Incorporated $JLL

Bessemer Group Inc. trimmed its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 66.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,722 shares of the financial services provider’s stock after selling 3,450 shares during the quarter. Bessemer Group Inc.’s holdings in Jones Lang LaSalle were worth $525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Moran Wealth Management LLC purchased a new position in Jones Lang LaSalle in the 1st quarter worth approximately $4,405,000. Perigon Wealth Management LLC bought a new stake in Jones Lang LaSalle in the 4th quarter valued at $3,901,000. Geode Capital Management LLC lifted its stake in Jones Lang LaSalle by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock worth $333,451,000 after purchasing an additional 15,995 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Jones Lang LaSalle by 78.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider’s stock valued at $9,723,000 after purchasing an additional 12,699 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new position in shares of Jones Lang LaSalle during the 4th quarter valued at about $1,507,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Trading Up 1.8%

Jones Lang LaSalle stock opened at $325.19 on Friday. The stock has a market cap of $15.09 billion, a PE ratio of 17.48 and a beta of 1.27. Jones Lang LaSalle Incorporated has a one year low of $258.19 and a one year high of $363.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a 50-day moving average of $306.87 and a two-hundred day moving average of $317.42.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. During the same quarter last year, the business posted $2.31 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that Jones Lang LaSalle Incorporated will post 22.85 EPS for the current fiscal year.

Insider Activity

In related news, Director Larry Quinlan sold 403 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the transaction, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on JLL shares. UBS Group upped their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Zacks Research raised shares of Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 24th. Barclays increased their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $394.00.

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.