Jones Lang LaSalle Incorporated $JLL Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its stake in Jones Lang LaSalle by 15.1% in the fourth quarter, selling 19,159 shares and leaving it with 107,489 shares worth about $36.2 million.
• JLL reported better-than-expected first-quarter earnings, posting EPS of $3.43 versus the $3.01 consensus estimate, while revenue rose 11.1% year over year to $6.39 billion.
• Wall Street remains generally positive on the stock, with an average Moderate Buy rating and a consensus price target of $394, even as some analysts trimmed ratings or price objectives.

Legal & General Group Plc decreased its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,489 shares of the financial services provider's stock after selling 19,159 shares during the period. Legal & General Group Plc owned approximately 0.23% of Jones Lang LaSalle worth $36,167,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. New Age Alpha Advisors LLC increased its stake in Jones Lang LaSalle by 5.7% during the 4th quarter. New Age Alpha Advisors LLC now owns 20,054 shares of the financial services provider's stock valued at $6,748,000 after buying an additional 1,090 shares during the period. Hantz Financial Services Inc. increased its stake in Jones Lang LaSalle by 91.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,407 shares of the financial services provider's stock valued at $473,000 after buying an additional 671 shares during the period. Coldstream Capital Management Inc. increased its stake in Jones Lang LaSalle by 31.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,472 shares of the financial services provider's stock valued at $495,000 after buying an additional 350 shares during the period. Life Cycle Investment Partners Ltd bought a new position in shares of Jones Lang LaSalle during the 4th quarter valued at about $37,109,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Jones Lang LaSalle during the 4th quarter valued at about $366,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Stock Performance

Shares of JLL opened at $282.18 on Friday. Jones Lang LaSalle Incorporated has a one year low of $217.21 and a one year high of $363.06. The company has a 50-day moving average of $312.49 and a two-hundred day moving average of $321.43. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 15.17 and a beta of 1.34. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, topping the consensus estimate of $3.01 by $0.42. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The company had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $6 billion. During the same period last year, the company posted $2.31 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Jones Lang LaSalle Incorporated will post 22.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JLL has been the subject of several research reports. UBS Group raised their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Weiss Ratings lowered shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday. Barclays raised their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $394.00.

Insider Activity

In related news, Director Deborah H. Mcaneny sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the sale, the director directly owned 14,985 shares in the company, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard Bloxam sold 5,440 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The SEC filing for this sale provides additional information. Company insiders own 0.91% of the company's stock.

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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