Allspring Global Investments Holdings LLC Sells 10,847 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Allspring Global Investments Holdings LLC sold 10,847 shares of Jones Lang LaSalle, reducing its holdings by 7.1% to approximately 141,959 shares valued at $36.47 million as of the latest SEC filing.
• Several analysts have recently upgraded their ratings on Jones Lang LaSalle, with UBS increasing the target price to $360.00 and JPMorgan raising it to $372.00, reflecting positive sentiment towards the company's stock.
• Jones Lang LaSalle reported quarterly earnings of $3.30 EPS, exceeding estimates, while its revenue increased by 11% year-over-year to $6.25 billion.

Allspring Global Investments Holdings LLC reduced its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,959 shares of the financial services provider's stock after selling 10,847 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of Jones Lang LaSalle worth $36,466,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Jones Lang LaSalle in the first quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Jones Lang LaSalle by 322.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock valued at $34,000 after buying an additional 100 shares during the period. SVB Wealth LLC acquired a new position in Jones Lang LaSalle in the first quarter valued at approximately $38,000. Brooklyn Investment Group lifted its holdings in Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock valued at $80,000 after buying an additional 189 shares during the period. Finally, Covestor Ltd lifted its holdings in Jones Lang LaSalle by 30.4% in the first quarter. Covestor Ltd now owns 335 shares of the financial services provider's stock valued at $83,000 after buying an additional 78 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Jones Lang LaSalle in a report on Wednesday, October 8th. JMP Securities started coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a report on Sunday, August 31st. UBS Group increased their target price on shares of Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a "buy" rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $338.29.

Jones Lang LaSalle Trading Up 3.1%

Shares of NYSE:JLL opened at $303.77 on Thursday. Jones Lang LaSalle Incorporated has a 12 month low of $194.36 and a 12 month high of $322.36. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. The company's fifty day simple moving average is $300.04 and its 200 day simple moving average is $259.39. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 26.12 and a beta of 1.39.

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, topping analysts' consensus estimates of $3.20 by $0.10. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the business posted $2.55 earnings per share. The firm's quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

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.

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