Jones Lang LaSalle Incorporated $JLL Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Jones Lang LaSalle by 15.8% in Q4, selling 13,816 shares and leaving it with 73,698 shares (about 0.16%) valued at $24.8 million.
• M&T Bank Corp massively boosted its position, purchasing 3,862,153 shares to hold 3,864,241 shares worth roughly $1.30 billion, and institutional investors now own about 94.8% of JLL.
• JLL beat expectations for the quarter with EPS of $8.71 (vs. $7.25 est.) and revenue of $7.61 billion (+11.7% YoY); analysts give a "Moderate Buy" consensus with an average target of $365.33 and some firms raising targets (UBS to $445).

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 15.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,698 shares of the financial services provider's stock after selling 13,816 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.16% of Jones Lang LaSalle worth $24,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JLL. M&T Bank Corp raised its stake in Jones Lang LaSalle by 184,969.0% in 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 purchasing an additional 3,862,153 shares during the last quarter. Alliancebernstein L.P. raised its stake in Jones Lang LaSalle by 5.2% in the 3rd quarter. Alliancebernstein L.P. now owns 598,980 shares of the financial services provider's stock valued at $178,664,000 after purchasing an additional 29,560 shares during the last quarter. Bamco Inc. NY raised its stake in Jones Lang LaSalle by 8.8% in the 3rd quarter. Bamco Inc. NY now owns 564,097 shares of the financial services provider's stock valued at $168,259,000 after purchasing an additional 45,733 shares during the last quarter. Millennium Management LLC raised its stake in Jones Lang LaSalle by 4,285.3% in the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock valued at $104,643,000 after purchasing an additional 342,821 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Jones Lang LaSalle by 310.0% in the 3rd quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider's stock valued at $86,545,000 after purchasing an additional 219,373 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Trading Down 0.8%

NYSE JLL opened at $338.87 on Thursday. Jones Lang LaSalle Incorporated has a 12 month low of $211.86 and a 12 month high of $363.06. The company has a 50-day moving average of $314.14 and a 200-day moving average of $321.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $15.72 billion, a P/E ratio of 20.65 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $8.71 EPS for the quarter, beating analysts' consensus estimates of $7.25 by $1.46. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The company had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the prior year, the company posted $6.15 EPS. The company's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts predict that Jones Lang LaSalle Incorporated will post 21.75 earnings per share for the current year.

Insider Transactions at Jones Lang LaSalle

In other news, CEO Richard Bloxam sold 5,440 shares of the business's stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah H. Mcaneny sold 2,500 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total value of $751,250.00. Following the sale, the director owned 14,985 shares of the company's stock, valued at $4,502,992.50. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. 0.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JLL. UBS Group boosted their target price on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods lowered their price objective on 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. Wall Street Zen raised Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research report on Sunday, January 11th. Weiss Ratings raised Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Finally, Barclays lowered their price objective on Jones Lang LaSalle from $355.00 to $348.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $365.33.

About Jones Lang LaSalle

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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