Jones Lang LaSalle Incorporated $JLL Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group cut its Jones Lang LaSalle stake by 62.7% in the first quarter, selling 5,670 shares and retaining 3,378 shares valued at approximately $1.03 million.
• Institutional ownership remains substantial at 94.8%, with Glenmede, Janus Henderson, Amundi and others increasing their positions during the quarter.
• JLL reported quarterly EPS of $5.26, beating estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $417.83.

Rathbones Group PLC trimmed its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 62.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,378 shares of the financial services provider's stock after selling 5,670 shares during the quarter. Rathbones Group PLC's holdings in Jones Lang LaSalle were worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its position in shares of Jones Lang LaSalle by 449.7% during the first quarter. Glenmede Trust Co. NA now owns 25,676 shares of the financial services provider's stock worth $7,814,000 after purchasing an additional 21,005 shares in the last quarter. Vestor Capital LLC acquired a new position in shares of Jones Lang LaSalle in the first quarter valued at approximately $3,693,000. Bank of America Corp DE grew its holdings in shares of Jones Lang LaSalle by 1.3% in the first quarter. Bank of America Corp DE now owns 303,446 shares of the financial services provider's stock valued at $92,345,000 after purchasing an additional 3,985 shares in the last quarter. Janus Henderson Group PLC increased its stake in Jones Lang LaSalle by 291.3% during the 1st quarter. Janus Henderson Group PLC now owns 84,298 shares of the financial services provider's stock worth $25,680,000 after buying an additional 62,753 shares during the period. Finally, Amundi lifted its holdings in Jones Lang LaSalle by 54.4% during the 1st quarter. Amundi now owns 81,889 shares of the financial services provider's stock worth $24,920,000 after buying an additional 28,839 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Trading Up 0.4%

Shares of NYSE:JLL opened at $367.69 on Wednesday. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $369.95. The company's 50 day moving average is $315.56 and its two-hundred day moving average is $317.43. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The company has a market cap of $16.92 billion, a PE ratio of 17.62 and a beta of 1.25.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.70. The business had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.30 EPS. Equities analysts predict that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 12th. The stock was 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. The trade was a 8.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on JLL. Weiss Ratings downgraded shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Keefe, Bruyette & Woods increased their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday. Barclays lifted their target price on Jones Lang LaSalle from $366.00 to $368.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Raymond James Financial restated a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, UBS Group increased their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $417.83.

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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