Jefferies Financial Group Inc. Sells 15,437 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in Jones Lang LaSalle Incorporated by 92.1% during the first quarter, selling 15,437 shares and now owning just 1,327 shares worth approximately $329,000.
• Jones Lang LaSalle reported earnings per share of $3.30 for the last quarter, exceeding analysts' estimates and achieving an 11.0% year-over-year revenue growth to $6.25 billion.
• Currently, 94.80% of Jones Lang LaSalle's stock is owned by institutional investors and hedge funds, reflecting strong interest from larger financial entities in the company's performance.

Jefferies Financial Group Inc. reduced its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 92.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,327 shares of the financial services provider's stock after selling 15,437 shares during the period. Jefferies Financial Group Inc.'s holdings in Jones Lang LaSalle were worth $329,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in JLL. Norden Group LLC bought a new position in Jones Lang LaSalle in the 1st quarter valued at about $287,000. Bridges Investment Management Inc. grew its stake in shares of Jones Lang LaSalle by 120.0% during the 1st quarter. Bridges Investment Management Inc. now owns 4,447 shares of the financial services provider's stock worth $1,102,000 after acquiring an additional 2,426 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Jones Lang LaSalle in the 1st quarter valued at about $8,164,000. Janney Montgomery Scott LLC lifted its holdings in Jones Lang LaSalle by 34.5% during the first quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider's stock valued at $2,176,000 after purchasing an additional 2,252 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Jones Lang LaSalle by 13.2% in the 1st quarter. Truist Financial Corp now owns 206,987 shares of the financial services provider's stock worth $51,314,000 after buying an additional 24,159 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Trading Up 1.5%

Shares of Jones Lang LaSalle stock traded up $4.20 on Friday, hitting $278.52. The stock had a trading volume of 364,406 shares, compared to its average volume of 409,870. The company has a quick ratio of 2.01, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $288.50. The stock's 50-day simple moving average is $252.48 and its two-hundred day simple moving average is $247.89. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 23.95 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $0.10. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.17 billion. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The company's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.55 EPS. As a group, sell-side analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insiders Place Their Bets

In related 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 transaction of $65,441.75. Following the completion of the transaction, the chief executive officer owned 10,297 shares in the company, valued at $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.91% of the company's stock.

Wall Street Analyst Weigh In

JLL has been the topic of several analyst reports. Citizens Jmp assumed coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. JMP Securities started coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. Keefe, Bruyette & Woods increased their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Citigroup dropped their target price on 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 upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Saturday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $312.43.

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.