Vanguard Group Inc. Sells 60,879 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Vanguard Group Inc. reduced its stake in Jones Lang LaSalle by 0.9%, owning approximately 14.62% of the company, valued at $1.72 billion after selling 60,879 shares.
• Analysts have mixed views on Jones Lang LaSalle with target prices ranging from $240.00 to $340.00, resulting in an average rating of "Moderate Buy" and a consensus target of $312.43.
• Jones Lang LaSalle reported earnings of $3.30 per share, exceeding estimates, and its revenues grew by 11.0% year-over-year, reaching $6.25 billion for the quarter.

Vanguard Group Inc. lowered its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,946,296 shares of the financial services provider's stock after selling 60,879 shares during the period. Vanguard Group Inc. owned 14.62% of Jones Lang LaSalle worth $1,722,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its holdings in shares of Jones Lang LaSalle by 194.0% during the first quarter. Allianz Asset Management GmbH now owns 395,337 shares of the financial services provider's stock worth $98,008,000 after purchasing an additional 260,847 shares during the period. Marshall Wace LLP increased its stake in Jones Lang LaSalle by 134.5% during the 4th quarter. Marshall Wace LLP now owns 373,207 shares of the financial services provider's stock worth $94,474,000 after acquiring an additional 214,087 shares during the period. GAMMA Investing LLC raised its holdings in Jones Lang LaSalle by 25,132.7% in the 1st quarter. GAMMA Investing LLC now owns 212,459 shares of the financial services provider's stock valued at $52,671,000 after acquiring an additional 211,617 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Jones Lang LaSalle by 146.2% during the 4th quarter. Millennium Management LLC now owns 335,451 shares of the financial services provider's stock worth $84,916,000 after purchasing an additional 199,197 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Jones Lang LaSalle by 285.8% in the first quarter. Blair William & Co. IL now owns 217,835 shares of the financial services provider's stock valued at $54,003,000 after purchasing an additional 161,371 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle stock in a transaction on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the sale, the chief executive officer directly owned 10,297 shares in the company, valued at $2,450,377.09. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JLL. UBS Group boosted their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. JMP Securities began coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. Keefe, Bruyette & Woods lifted their price target on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Saturday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of "Moderate Buy" and an average target price of $312.43.

Jones Lang LaSalle Stock Up 2.9%

NYSE:JLL traded up $7.98 on Tuesday, hitting $283.77. The stock had a trading volume of 571,906 shares, compared to its average volume of 422,049. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $288.50. The firm's fifty day simple moving average is $254.76 and its two-hundred day simple moving average is $247.96. 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 stock has a market cap of $13.44 billion, a P/E ratio of 24.40 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.10. The firm had revenue of $6.25 billion during 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 business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 EPS. Analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

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.