Jones Lang LaSalle Incorporated $JLL Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its holdings in Jones Lang LaSalle Incorporated (JLL) by 5.7% during the 1st quarter, selling 31,472 shares and now holding 518,449 shares valued at approximately $128.5 million.
• JLL's stock received a boost from analysts, with JPMorgan Chase & Co. raising their price target from $285 to $372, while the average price target among analysts is set at $328.57.
• CEO Andrew W. Poppink sold 275 shares for $65,441.75, representing a 2.60% decrease in his ownership, with insiders holding 0.91% of the company.

Alliancebernstein L.P. cut its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 518,449 shares of the financial services provider's stock after selling 31,472 shares during the quarter. Alliancebernstein L.P. owned about 1.09% of Jones Lang LaSalle worth $128,529,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle in the first quarter worth about $33,000. SVB Wealth LLC purchased a new position in shares of Jones Lang LaSalle in the first quarter worth about $38,000. Western Pacific Wealth Management LP purchased a new position in shares of Jones Lang LaSalle in the first quarter worth about $41,000. Versant Capital Management Inc raised its stake in shares of Jones Lang LaSalle by 356.3% in the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after purchasing an additional 253 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock worth $80,000 after purchasing an additional 189 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Price Performance

JLL traded up $4.05 during trading on Friday, hitting $311.73. The company's stock had a trading volume of 337,902 shares, compared to its average volume of 425,483. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $315.14. The business's fifty day simple moving average is $276.92 and its 200 day simple moving average is $250.44. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 26.80 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The company had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the company earned $2.55 earnings per share. Jones Lang LaSalle's quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $237.97, for a total value of $65,441.75. Following the sale, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

JLL has been the subject of several research analyst reports. Citizens Jmp initiated coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Wall Street Zen upgraded Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. Keefe, Bruyette & Woods lifted their price target on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. JMP Securities began coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating for the company. Finally, UBS Group lifted their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and a consensus target price of $328.57.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.