Jones Lang LaSalle Incorporated $JLL Stock Holdings Trimmed by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its stake in Jones Lang LaSalle by 97.9%, holding only 2,008 shares worth $498,000 after selling 94,390 shares in the first quarter.
• Several other institutional investors increased their positions in Jones Lang LaSalle, with Allianz Asset Management boosting its stake by 194.0%.
• Jones Lang LaSalle recently reported an earnings per share (EPS) of $3.30 for the quarter, exceeding the consensus estimate of $3.20.

Alyeska Investment Group L.P. lowered its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 97.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,008 shares of the financial services provider's stock after selling 94,390 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Jones Lang LaSalle were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter worth about $33,000. SVB Wealth LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter worth about $38,000. Western Pacific Wealth Management LP acquired a new position in shares of Jones Lang LaSalle during the first quarter worth about $41,000. Versant Capital Management Inc lifted its stake in shares of Jones Lang LaSalle by 356.3% during 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 in the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Jones Lang LaSalle by 142.1% during 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 in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the company'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 transaction of $65,441.75. Following the completion of the transaction, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.91% of the company's stock.

Analyst Ratings Changes

JLL has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price objective on Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their target price on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. JMP Securities began coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Finally, Citizens Jmp began coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Jones Lang LaSalle has an average rating of "Moderate Buy" and an average price target of $328.57.

Jones Lang LaSalle Stock Performance

Shares of NYSE:JLL traded down $1.99 during trading on Friday, hitting $312.42. 523,801 shares of the company traded hands, compared to its average volume of 386,353. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of 26.86 and a beta of 1.41. The business's fifty day moving average is $282.09 and its 200-day moving average is $252.24. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $316.79. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results 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. The company had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.17 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 earnings per share. As a group, equities analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

About Jones Lang LaSalle

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.