ABN Amro Investment Solutions Cuts Stake in Jones Lang LaSalle Incorporated $JLL

ABN Amro Investment Solutions lessened its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 28.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,925 shares of the financial services provider's stock after selling 4,645 shares during the quarter. ABN Amro Investment Solutions' holdings in Jones Lang LaSalle were worth $4,012,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in JLL. Equity Investment Corp purchased a new position in Jones Lang LaSalle during the third quarter worth approximately $72,132,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Jones Lang LaSalle during the third quarter worth $1,143,000. DigitalBridge Group Inc. acquired a new position in shares of Jones Lang LaSalle during the third quarter worth $1,223,000. AustralianSuper Pty Ltd acquired a new position in shares of Jones Lang LaSalle during the third quarter worth $32,184,000. Finally, Ranger Investment Management L.P. lifted its position in shares of Jones Lang LaSalle by 53.0% during the third quarter. Ranger Investment Management L.P. now owns 75,950 shares of the financial services provider's stock worth $22,654,000 after purchasing an additional 26,320 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Insider Buying and Selling

In other news, CEO Richard Bloxam sold 5,440 shares of Jones Lang LaSalle stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, Director Deborah H. Mcaneny sold 2,500 shares of Jones Lang LaSalle stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the transaction, the director directly owned 14,985 shares in the company, valued at approximately $4,502,992.50. This represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced 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. UBS Group upped their price target on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. 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. Weiss Ratings upgraded shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Finally, Barclays increased their target price on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and an average price target of $368.33.

Jones Lang LaSalle Stock Performance

JLL stock opened at $292.23 on Friday. 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 market cap of $13.56 billion, a P/E ratio of 15.71 and a beta of 1.34. The firm has a 50 day simple moving average of $313.68 and a 200 day simple moving average of $321.66. Jones Lang LaSalle Incorporated has a 52 week low of $211.86 and a 52 week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The firm had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $6 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The company's revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Jones Lang LaSalle Incorporated will post 22.35 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.