Jones Lang LaSalle Incorporated $JLL Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its stake in Jones Lang LaSalle Incorporated by 14.2%, selling 28,324 shares and retaining approximately 171,465 shares valued at about $42.5 million.
• Jones Lang LaSalle recently reported a quarterly EPS of $3.30, exceeding analysts' estimates and showing an 11% increase in revenue compared to the previous year.
• Several analysts have raised their price targets for Jones Lang LaSalle, with JPMorgan Chase increasing its target from $285 to $372, reflecting a positive outlook on the stock.

Ameriprise Financial Inc. trimmed its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 14.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,465 shares of the financial services provider's stock after selling 28,324 shares during the quarter. Ameriprise Financial Inc. owned 0.36% of Jones Lang LaSalle worth $42,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Channing Capital Management LLC increased its position in shares of Jones Lang LaSalle by 20.8% during the first quarter. Channing Capital Management LLC now owns 31,629 shares of the financial services provider's stock valued at $7,841,000 after acquiring an additional 5,448 shares during the last quarter. Erste Asset Management GmbH increased its holdings in Jones Lang LaSalle by 4.0% in the 1st quarter. Erste Asset Management GmbH now owns 17,269 shares of the financial services provider's stock valued at $4,246,000 after purchasing an additional 664 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Jones Lang LaSalle by 24.9% in the 1st quarter. Hsbc Holdings PLC now owns 42,079 shares of the financial services provider's stock valued at $10,373,000 after purchasing an additional 8,400 shares during the last quarter. Northern Trust Corp grew its stake in shares of Jones Lang LaSalle by 21.6% in the first quarter. Northern Trust Corp now owns 548,227 shares of the financial services provider's stock valued at $135,911,000 after buying an additional 97,492 shares in the last quarter. Finally, Brooklyn Investment Group grew 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 valued at $80,000 after buying an additional 189 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JLL. JPMorgan Chase & Co. lifted their target price on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. JMP Securities assumed coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating for the company. UBS Group boosted their price target on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Citizens Jmp began coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. Finally, 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 report on Wednesday, August 13th. One equities research 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 stock. Based on data from MarketBeat, Jones Lang LaSalle has an average rating of "Moderate Buy" and an average target price of $328.57.

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $237.97, for a total value of $65,441.75. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Stock Down 0.3%

Shares of Jones Lang LaSalle stock traded down $0.83 during trading hours on Wednesday, hitting $300.56. The company had a trading volume of 294,918 shares, compared to its average volume of 464,140. The company's 50-day moving average is $274.77 and its two-hundred day moving average is $250.41. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $308.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market cap of $14.24 billion, a P/E ratio of 25.84 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) 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 business had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. Analysts anticipate 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.