Jones Lang LaSalle Incorporated $JLL Shares Sold by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management sharply reduced its stake in Jones Lang LaSalle, cutting holdings by 82.1% in the first quarter and leaving it with 3,659 shares worth about $1.11 million.
• Institutional ownership remains very high, with 94.8% of JLL stock held by institutions; recent moves also included a director sale by Larry Quinlan of 402 shares under a pre-arranged 10b5-1 plan.
• JLL reported better-than-expected quarterly results, posting $3.43 EPS versus $3.01 expected and revenue of $6.39 billion, while analysts currently maintain a Buy consensus with a $394 price target.

Meeder Asset Management Inc. cut its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 82.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,659 shares of the financial services provider's stock after selling 16,763 shares during the period. Meeder Asset Management Inc.'s holdings in Jones Lang LaSalle were worth $1,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. M&T Bank Corp raised its stake in Jones Lang LaSalle by 184,969.0% during the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider's stock valued at $1,300,201,000 after acquiring an additional 3,862,153 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Jones Lang LaSalle by 426.7% in the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider's stock worth $302,697,000 after purchasing an additional 728,824 shares in the last quarter. Norges Bank acquired a new position in shares of Jones Lang LaSalle during the fourth quarter valued at $194,950,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at about $132,263,000. Finally, Millennium Management LLC lifted its holdings in Jones Lang LaSalle by 4,285.3% in the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock worth $104,643,000 after purchasing an additional 342,821 shares during the period. 94.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Larry Quinlan sold 402 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $301.73, for a total transaction of $121,295.46. Following the completion of the sale, the director directly owned 4,369 shares of the company's stock, valued at $1,318,258.37. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JLL has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. UBS Group upped their price target on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 24th. Finally, Barclays boosted their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Jones Lang LaSalle has a consensus rating of "Buy" and a consensus price target of $394.00.

Jones Lang LaSalle Price Performance

NYSE:JLL opened at $325.73 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. The business's 50-day moving average price is $305.10 and its 200 day moving average price is $317.65. Jones Lang LaSalle Incorporated has a 52-week low of $253.21 and a 52-week high of $363.06. The firm has a market cap of $15.11 billion, a P/E ratio of 17.51 and a beta of 1.27.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. Jones Lang LaSalle's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 EPS. As a group, sell-side analysts predict that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current fiscal year.

Jones Lang LaSalle 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.

Want to see what other hedge funds are holding JLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.