Jones Lang LaSalle Incorporated $JLL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,300 shares of the financial services provider’s stock after selling 8,333 shares during the period. Bank of New York Mellon Corp’s holdings in Jones Lang LaSalle were worth $103,734,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in JLL. Integrated Wealth Concepts LLC purchased a new position in Jones Lang LaSalle in the 1st quarter valued at approximately $546,000. Empowered Funds LLC grew its stake in Jones Lang LaSalle by 203.1% during the 1st quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider’s stock worth $1,003,000 after purchasing an additional 2,711 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Jones Lang LaSalle by 33.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 126 shares during the period. Cresset Asset Management LLC raised its position in Jones Lang LaSalle by 28.4% in the 2nd quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 370 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at about $211,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JLL has been the topic of a number of recent research reports. Zacks Research lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. UBS Group increased their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Barclays raised 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 report on Wednesday, May 13th. Keefe, Bruyette & Woods lowered their target price on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Finally, Weiss Ratings lowered Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Jones Lang LaSalle presently has an average rating of “Moderate Buy” and a consensus target price of $394.00.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Richard Bloxam sold 5,440 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total value of $1,615,353.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah H. Mcaneny sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total value of $751,250.00. Following the transaction, the director directly owned 14,985 shares in the company, valued at approximately $4,502,992.50. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. 0.91% of the stock is owned by insiders.

Jones Lang LaSalle Stock Performance

Shares of Jones Lang LaSalle stock opened at $295.76 on Monday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a 52 week low of $228.48 and a 52 week high of $363.06. The firm’s 50 day moving average is $312.04 and its two-hundred day moving average is $321.25. The firm has a market capitalization of $13.72 billion, a P/E ratio of 15.90 and a beta of 1.29.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.42. The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. Research analysts forecast that Jones Lang LaSalle Incorporated will post 22.8 EPS for the current fiscal year.

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.