Bank of New York Mellon Corp Cuts Holdings in Jones Lang LaSalle Incorporated $JLL

Bank of New York Mellon Corp reduced its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,300 shares of the financial services provider's stock after selling 8,333 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Jones Lang LaSalle worth $103,734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bridges Investment Management Inc. grew its holdings in Jones Lang LaSalle by 7.9% in the fourth quarter. Bridges Investment Management Inc. now owns 5,881 shares of the financial services provider's stock valued at $1,979,000 after purchasing an additional 430 shares during the period. Natixis Advisors LLC increased its holdings in Jones Lang LaSalle by 1.5% in the 4th quarter. Natixis Advisors LLC now owns 20,915 shares of the financial services provider's stock worth $7,037,000 after acquiring an additional 306 shares in the last quarter. Cercano Management LLC acquired a new position in Jones Lang LaSalle during the fourth quarter worth $212,000. GW Henssler & Associates Ltd. purchased a new position in Jones Lang LaSalle during the fourth quarter valued at $236,000. Finally, Rothschild Wealth LLC acquired a new stake in shares of Jones Lang LaSalle in the fourth quarter valued at about $305,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Insider Buying and Selling at Jones Lang LaSalle

In other news, CEO Richard Bloxam sold 5,440 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deborah H. Mcaneny sold 2,500 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the transaction, the director directly owned 14,985 shares of the company's stock, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.91% of the company's stock.

Analysts Set New Price Targets

JLL has been the subject of a number of research analyst reports. Barclays increased their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a report on Wednesday, May 13th. UBS Group boosted their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Weiss Ratings downgraded Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Keefe, Bruyette & Woods lowered their target price on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Finally, Zacks Research lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $394.00.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock opened at $295.76 on Monday. The firm has a 50 day simple moving average of $312.04 and a 200-day simple moving average of $321.25. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 15.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35. Jones Lang LaSalle Incorporated has a 1-year low of $228.48 and a 1-year high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, beating the consensus estimate of $3.01 by $0.42. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 EPS. On average, analysts expect that Jones Lang LaSalle Incorporated will post 22.8 EPS for the current year.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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