Jones Lang LaSalle Incorporated $JLL Shares Sold by FJ Capital Management LLC

Key Points

• FJ Capital Management LLC reduced its stake in Jones Lang LaSalle by 14.9%, ending the first quarter with 16,138 shares valued at approximately $4 million.
• Several institutional investors have increased their holdings in Jones Lang LaSalle, with Graham Capital Management boosting its stake by 57.5%.
• Jones Lang LaSalle reported an earnings per share of $3.30, surpassing analysts' expectations of $3.20, with quarterly revenue increasing by 11% year-over-year.

FJ Capital Management LLC decreased its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 14.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,138 shares of the financial services provider's stock after selling 2,826 shares during the period. FJ Capital Management LLC's holdings in Jones Lang LaSalle were worth $4,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of JLL. Allianz Asset Management GmbH increased its position in Jones Lang LaSalle by 194.0% during the first quarter. Allianz Asset Management GmbH now owns 395,337 shares of the financial services provider's stock valued at $98,008,000 after acquiring an additional 260,847 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Jones Lang LaSalle during the first quarter valued at $53,533,000. GAMMA Investing LLC boosted its stake in shares of Jones Lang LaSalle by 25,132.7% during the first quarter. GAMMA Investing LLC now owns 212,459 shares of the financial services provider's stock valued at $52,671,000 after purchasing an additional 211,617 shares during the period. Millennium Management LLC boosted its stake in shares of Jones Lang LaSalle by 146.2% during the fourth quarter. Millennium Management LLC now owns 335,451 shares of the financial services provider's stock valued at $84,916,000 after purchasing an additional 199,197 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Jones Lang LaSalle by 285.8% during the first quarter. Blair William & Co. IL now owns 217,835 shares of the financial services provider's stock valued at $54,003,000 after purchasing an additional 161,371 shares during the period. Institutional investors own 94.80% of the company's stock.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Up 1.3%

Jones Lang LaSalle stock traded up $4.05 during trading hours on Friday, reaching $311.73. The stock had a trading volume of 337,902 shares, compared to its average volume of 426,808. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 26.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The business's 50 day moving average price is $276.92 and its 200-day moving average price is $250.79. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $315.14.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Citigroup lowered 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 note on Wednesday, May 28th. Wall Street Zen raised shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Finally, JMP Securities assumed coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and an average price target of $328.57.

Jones Lang LaSalle Company 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.