Jones Lang LaSalle Incorporated $JLL Stake Lowered by Trust Point Inc.

Key Points

• Trust Point Inc. has reduced its stake in Jones Lang LaSalle Incorporated by 34.7%, now owning 1,620 shares valued at $414,000.
• Despite the decrease in shares by some investors, other institutions like Thurston Springer Miller Herd & Titak Inc. and Golden State Wealth Management LLC significantly increased their stakes during the same period.
• Jones Lang LaSalle reported earnings of $3.30 per share for the recent quarter, exceeding estimates, with a revenue increase of 11.0% year-over-year.

Trust Point Inc. lowered its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 34.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,620 shares of the financial services provider's stock after selling 859 shares during the quarter. Trust Point Inc.'s holdings in Jones Lang LaSalle were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. EdgePoint Investment Group Inc. boosted its position in Jones Lang LaSalle by 11.9% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,835,344 shares of the financial services provider's stock valued at $455,000,000 after acquiring an additional 195,818 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Jones Lang LaSalle by 50.7% during the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider's stock worth $263,298,000 after acquiring an additional 357,469 shares during the period. Invesco Ltd. grew its holdings in shares of Jones Lang LaSalle by 1.8% during the first quarter. Invesco Ltd. now owns 961,959 shares of the financial services provider's stock worth $238,479,000 after purchasing an additional 17,336 shares during the last quarter. Swedbank AB lifted its position in shares of Jones Lang LaSalle by 115.0% during the 2nd quarter. Swedbank AB now owns 938,149 shares of the financial services provider's stock valued at $239,960,000 after acquiring an additional 501,716 shares during the period. Finally, Northern Trust Corp grew its stake in Jones Lang LaSalle by 21.6% in the 1st quarter. Northern Trust Corp now owns 548,227 shares of the financial services provider's stock worth $135,911,000 after acquiring an additional 97,492 shares during the period. 94.80% of the stock is owned by institutional investors.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock traded up $2.18 during midday trading on Tuesday, hitting $315.86. 29,921 shares of the company were exchanged, compared to its average volume of 407,664. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. The business has a fifty day simple moving average of $289.09 and a two-hundred day simple moving average of $254.19. The firm has a market capitalization of $14.97 billion, a PE ratio of 27.18 and a beta of 1.41. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $322.36.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group boosted their price target on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods increased their target price on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus 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.