Citigroup Inc. Sells 2,038 Shares of Jones Lang LaSalle Incorporated $JLL

Citigroup Inc. trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 13.5% in the 3rd quarter, Holdings Channel reports. The fund owned 13,077 shares of the financial services provider’s stock after selling 2,038 shares during the quarter. Citigroup Inc.’s holdings in Jones Lang LaSalle were worth $3,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EdgePoint Investment Group Inc. raised its stake in Jones Lang LaSalle by 21.0% during the 2nd 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 last quarter. Swedbank AB raised its position in shares of Jones Lang LaSalle by 5.4% during the third quarter. Swedbank AB now owns 989,199 shares of the financial services provider’s stock valued at $295,058,000 after buying an additional 51,050 shares during the last quarter. Norges Bank bought a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $160,187,000. Alliancebernstein L.P. grew its position in Jones Lang LaSalle by 9.8% during the second quarter. Alliancebernstein L.P. now owns 569,420 shares of the financial services provider’s stock worth $145,646,000 after buying an additional 50,971 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Jones Lang LaSalle by 9.9% during the second quarter. Bamco Inc. NY now owns 518,364 shares of the financial services provider’s stock valued at $132,587,000 after acquiring an additional 46,523 shares during the period. Institutional investors own 94.80% of the company’s stock.

Insider Activity at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $330.87, for a total transaction of $1,654,350.00. Following the sale, the chief executive officer directly owned 114,781 shares in the company, valued at $37,977,589.47. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 9,760 shares of company stock valued at $3,227,038. 0.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JLL. Zacks Research raised Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Barclays started 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 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Keefe, Bruyette & Woods decreased 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 report on Tuesday, February 24th. Finally, Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.50.

Jones Lang LaSalle Stock Up 0.3%

Shares of NYSE:JLL opened at $310.62 on Thursday. The company’s fifty day moving average is $334.09 and its 200-day moving average is $318.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.23 and a current ratio of 2.23. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $363.06. The company has a market capitalization of $14.55 billion, a PE ratio of 18.93 and a beta of 1.42.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.25 by $1.46. The firm had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $7.45 billion. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $6.15 EPS. Equities research analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Jones Lang LaSalle Company 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.