Jones Lang LaSalle Incorporated $JLL Shares Sold by CI Investments Inc.

Key Points

• CI Investments cut its JLL position by 92.3% in Q3, selling 3,710 shares and leaving just 311 shares worth about $93,000.
• CEO Christian Ulbrich sold 5,000 shares on Dec. 10 for roughly $1.65 million, reducing his ownership by about 4.17%.
• JLL beat the quarter's estimates with $8.71 EPS (vs. $7.25 expected) and $7.61B revenue, prompting several analyst upgrades and higher price targets (e.g., UBS $425, Goldman $407) and a consensus "Moderate Buy" with an average target of ~$362.50.

CI Investments Inc. lowered its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 92.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311 shares of the financial services provider's stock after selling 3,710 shares during the period. CI Investments Inc.'s holdings in Jones Lang LaSalle were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. EdgePoint Investment Group Inc. boosted its stake in shares of Jones Lang LaSalle by 21.0% in the second quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider's stock valued at $568,222,000 after buying an additional 386,184 shares in the last quarter. Swedbank AB grew its stake in shares of Jones Lang LaSalle by 5.4% during the 3rd quarter. Swedbank AB now owns 989,199 shares of the financial services provider's stock worth $295,058,000 after purchasing an additional 51,050 shares during the period. Norges Bank purchased a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at about $160,187,000. Alliancebernstein L.P. lifted its stake in shares of Jones Lang LaSalle by 9.8% in the second quarter. Alliancebernstein L.P. now owns 569,420 shares of the financial services provider's stock valued at $145,646,000 after purchasing an additional 50,971 shares during the period. Finally, Bamco Inc. NY increased its holdings in Jones Lang LaSalle by 9.9% in the second quarter. Bamco Inc. NY now owns 518,364 shares of the financial services provider's stock valued at $132,587,000 after buying an additional 46,523 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $330.87, for a total transaction of $1,654,350.00. Following the transaction, the chief executive officer owned 114,781 shares of the company's stock, valued at $37,977,589.47. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Trading Up 0.9%

Shares of Jones Lang LaSalle stock opened at $301.79 on Tuesday. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $363.06. The business's fifty day moving average is $331.58 and its two-hundred day moving average is $318.68. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.10. The firm has a market cap of $14.14 billion, a PE ratio of 18.39 and a beta of 1.42.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share for the quarter, topping the consensus estimate of $7.25 by $1.46. Jones Lang LaSalle had a return on equity of 12.50% and a net margin of 3.03%.The firm had revenue of $7.61 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the business posted $6.15 earnings per share. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Analyst Ratings Changes

JLL has been the subject of several research reports. Weiss Ratings raised Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. UBS Group raised their price objective on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Zacks Research raised Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Barclays assumed coverage on Jones Lang LaSalle in a report on Tuesday, December 2nd. They issued an "equal weight" rating and a $351.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a "buy" rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $362.50.

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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