Jones Lang LaSalle Incorporated $JLL Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its ownership in Jones Lang LaSalle Inc. by 1.6%, selling 1,264 shares and retaining a total of 75,624 shares valued at approximately $18.75 million.
• Numerous institutional investors have also modified their holdings, with Tidal Investments LLC increasing its stake by 4.7% and Mackenzie Financial Corp boosting theirs by 4.2% in the previous quarters.
• Analysts have set varied price targets for the company, with Keefe, Bruyette & Woods raising theirs to $297.00 and The Goldman Sachs Group increasing theirs to $378.00, reflecting a generally positive outlook despite mixed ratings.

American Century Companies Inc. reduced its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,624 shares of the financial services provider's stock after selling 1,264 shares during the period. American Century Companies Inc. owned approximately 0.16% of Jones Lang LaSalle worth $18,748,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Fox Run Management L.L.C. boosted its position in shares of Jones Lang LaSalle by 32.8% during the 1st quarter. Fox Run Management L.L.C. now owns 2,169 shares of the financial services provider's stock worth $538,000 after purchasing an additional 536 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Jones Lang LaSalle during the 1st quarter worth $268,000. Russell Investments Group Ltd. boosted its position in shares of Jones Lang LaSalle by 57.7% during the 1st quarter. Russell Investments Group Ltd. now owns 82,229 shares of the financial services provider's stock worth $20,385,000 after purchasing an additional 30,094 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Jones Lang LaSalle by 13.5% during the 1st quarter. HighTower Advisors LLC now owns 4,100 shares of the financial services provider's stock worth $1,016,000 after buying an additional 489 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Jones Lang LaSalle during the 1st quarter worth $53,533,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the company's stock in a transaction dated Friday, June 20th. The shares were 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 owned 10,297 shares of the company's stock, valued at $2,450,377.09. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is currently owned by corporate insiders.

Jones Lang LaSalle Price Performance

JLL stock traded down $1.89 during trading on Thursday, hitting $303.97. The stock had a trading volume of 192,820 shares, compared to its average volume of 408,048. The company's 50 day moving average price is $268.80 and its two-hundred day moving average price is $249.53. Jones Lang LaSalle Incorporated has a 1-year low of $194.36 and a 1-year high of $308.61. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 26.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the company posted $2.55 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JLL has been the subject of several research reports. JMP Securities initiated coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. The Goldman Sachs Group lifted their price target 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. Citizens Jmp initiated coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. Keefe, Bruyette & Woods lifted their price target on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, UBS Group lifted their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $328.57.

Jones Lang LaSalle 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.