Bank of New York Mellon Corp Lowers Position in Jones Lang LaSalle Incorporated $JLL

Bank of New York Mellon Corp decreased its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 305,753 shares of the financial services provider’s stock after selling 2,547 shares during the period. Bank of New York Mellon Corp’s holdings in Jones Lang LaSalle were worth $93,047,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Moran Wealth Management LLC bought a new position in shares of Jones Lang LaSalle during the first quarter valued at about $4,405,000. Perigon Wealth Management LLC bought a new stake in Jones Lang LaSalle in the 4th quarter worth about $3,901,000. Geode Capital Management LLC increased 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 valued at $333,451,000 after buying an additional 15,995 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in Jones Lang LaSalle in the 4th quarter valued at about $1,507,000. Finally, Thrivent Financial for Lutherans lifted its position 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 worth $9,723,000 after buying an additional 12,699 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

JLL has been the subject of several recent analyst reports. Barclays upped their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. UBS Group lifted their price target 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 upgraded Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings lowered Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $394.00.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the completion of the sale, the director directly owned 4,369 shares of the company’s stock, valued at $1,318,258.37. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is owned by corporate insiders.

Jones Lang LaSalle Stock Down 0.4%

JLL opened at $324.55 on Wednesday. Jones Lang LaSalle Incorporated has a twelve month low of $253.21 and a twelve month high of $363.06. The company’s 50-day moving average price is $305.27 and its two-hundred day moving average price is $317.56. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 17.45 and a beta of 1.27. 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 (NYSE:JLL) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. Jones Lang LaSalle’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. As a group, equities analysts expect that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current 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.