Jones Lang LaSalle Incorporated $JLL Stock Position Decreased by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Jones Lang LaSalle stake by 31.1% in the first quarter, selling 21,612 shares and retaining 47,958 shares valued at approximately $14.6 million. Institutional investors and hedge funds collectively own 94.8% of JLL.
• JLL reported quarterly EPS of $5.26, beating estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. Shares opened at $361.86, near their 52-week high of $373.29.
• Analyst sentiment remains positive, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $417.83; several firms recently raised their targets, including UBS to $445 and Keefe, Bruyette & Woods to $415.

Royal Bank of Canada decreased its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,958 shares of the financial services provider's stock after selling 21,612 shares during the quarter. Royal Bank of Canada owned about 0.10% of Jones Lang LaSalle worth $14,595,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Jones Lang LaSalle in the 1st quarter valued at $546,000. Empowered Funds LLC raised its holdings in Jones Lang LaSalle by 203.1% during the first quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock valued at $1,003,000 after buying an additional 2,711 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Jones Lang LaSalle by 33.8% in the second quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider's stock worth $128,000 after buying an additional 126 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Jones Lang LaSalle by 28.4% during the 2nd quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider's stock worth $428,000 after acquiring an additional 370 shares in the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Jones Lang LaSalle during the 2nd quarter valued at about $211,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the transaction, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 owned by corporate insiders.

Jones Lang LaSalle Trading Down 0.5%

Shares of JLL stock opened at $361.86 on Friday. The firm has a market capitalization of $16.65 billion, a P/E ratio of 17.34 and a beta of 1.25. Jones Lang LaSalle Incorporated has a 1 year low of $259.83 and a 1 year high of $373.29. The firm's fifty day simple moving average is $320.35 and its 200 day simple moving average is $317.93. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. As a group, sell-side analysts predict that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Zacks Research downgraded Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their target price on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a 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 company a "buy" rating in a report on Wednesday, April 22nd. Finally, Barclays lifted their price objective on Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and a consensus price target of $417.83.

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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