Bank of New York Mellon Corp Reduces Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Bank of New York Mellon Corp trimmed its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,012 shares of the financial services provider's stock after selling 9,580 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Jones Lang LaSalle worth $85,780,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of Jones Lang LaSalle during the 1st quarter worth $33,000. Western Pacific Wealth Management LP bought a new stake in Jones Lang LaSalle in the 1st quarter valued at about $41,000. CIBC Private Wealth Group LLC raised its stake in Jones Lang LaSalle by 25.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 50 shares during the period. Versant Capital Management Inc raised its stake in Jones Lang LaSalle by 356.3% in the 1st quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 253 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Jones Lang LaSalle by 39.9% in the 1st quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 105 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on JLL. UBS Group boosted their price objective on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut Jones Lang LaSalle from a "buy" rating to a "hold" rating in a research note on Saturday. Keefe, Bruyette & Woods reduced their target price on Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Citigroup reduced their target price on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $310.00.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle 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 value of $65,441.75. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Jones Lang LaSalle Price Performance

Shares of NYSE JLL traded down $0.84 during midday trading on Monday, hitting $256.05. 287,828 shares of the company's stock were exchanged, compared to its average volume of 398,602. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 23.15 and a beta of 1.34. The business's fifty day moving average price is $237.75 and its two-hundred day moving average price is $246.32. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.17. Jones Lang LaSalle Incorporated has a 12-month low of $194.36 and a 12-month high of $288.50.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.29. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.65 billion. Jones Lang LaSalle had a return on equity of 10.37% and a net margin of 2.23%. Jones Lang LaSalle's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 earnings per share. As a group, research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS 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.