Jones Lang LaSalle Incorporated $JLL Shares Sold by Amundi

Key Points

• Amundi cut its Jones Lang LaSalle stake by 49.7% in the second quarter, selling 40,728 shares and retaining 41,161 shares valued at approximately $12.8 million. Institutional investors collectively own 94.8% of JLL.
• JLL reported quarterly earnings of $5.26 per share, beating estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion.
• Analysts maintain a generally positive outlook, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $433.60; the stock recently traded at $347.07.

Amundi lessened its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 49.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,161 shares of the financial services provider's stock after selling 40,728 shares during the quarter. Amundi owned about 0.09% of Jones Lang LaSalle worth $12,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JLL. Integrated Wealth Concepts LLC purchased a new stake in shares of Jones Lang LaSalle during the first quarter worth $546,000. Empowered Funds LLC boosted its holdings in shares of Jones Lang LaSalle by 203.1% during the 1st quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock worth $1,003,000 after buying an additional 2,711 shares during the period. EverSource Wealth Advisors LLC lifted its position in Jones Lang LaSalle by 33.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider's stock worth $128,000 after acquiring an additional 126 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in Jones Lang LaSalle by 28.4% during the second quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider's stock valued at $428,000 after acquiring an additional 370 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $211,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the transaction, the chief executive officer directly owned 138,418 shares of the company's stock, valued at $53,364,291.54. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,000 shares of company stock worth $2,271,060 over the last quarter. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Up 1.4%

NYSE:JLL opened at $347.07 on Friday. The company has a market cap of $15.97 billion, a price-to-earnings ratio of 16.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. The stock's fifty day moving average price is $353.01 and its two-hundred day moving average price is $324.02. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $393.84.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.70. The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. Jones Lang LaSalle's revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.30 earnings per share. On average, analysts anticipate that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on JLL. Raymond James Financial reissued a "strong-buy" rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Zacks Research downgraded Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 18th. Barclays raised their price objective on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and a consensus price target of $433.60.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL, operating under the JLL brand, is a global commercial real estate services and investment management company. It advises property owners, occupiers, investors and developers across the real estate lifecycle, with services that include leasing, capital markets, investment sales and acquisitions, valuation and advisory, research, development consulting, and property and facilities management.

JLL also provides project and development management, workplace strategy, sustainability consulting, and technology-enabled real estate solutions.

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