Bank of New York Mellon Corp Sells 9,580 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

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

Several other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle in the 1st quarter worth about $33,000. Western Pacific Wealth Management LP purchased a new stake in shares of Jones Lang LaSalle in the first quarter worth approximately $41,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Jones Lang LaSalle by 25.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its position 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 valued at $80,000 after buying an additional 253 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position 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 buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Price Performance

JLL stock traded down $2.29 during midday trading on Friday, reaching $257.40. The company had a trading volume of 396,141 shares, compared to its average volume of 353,966. The firm has a 50-day moving average price of $237.75 and a 200-day moving average price of $246.44. The company has a market capitalization of $12.22 billion, a P/E ratio of 23.27 and a beta of 1.34. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $288.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.01 and a quick ratio of 2.01.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced 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. Jones Lang LaSalle had a net margin of 2.23% and a return on equity of 10.37%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were 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 in the company, valued at approximately $2,450,377.09. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

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.