Klingman & Associates LLC Trims Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• Klingman & Associates LLC reduced its Jones Lang LaSalle stake by 19.0% in the first quarter, selling 4,458 shares and ending with 19,041 shares valued at about $5.8 million.
• Jones Lang LaSalle posted better-than-expected quarterly results, with EPS of $3.43 versus estimates of $3.01 and revenue of $6.39 billion, up 11.1% year over year.
• Wall Street remains bullish on JLL, with a consensus Buy rating and an average price target of $394.00, while several analysts recently raised or maintained positive ratings.

Klingman & Associates LLC trimmed its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,041 shares of the financial services provider's stock after selling 4,458 shares during the period. Klingman & Associates LLC's holdings in Jones Lang LaSalle were worth $5,795,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust boosted its position in shares of Jones Lang LaSalle by 1.8% during the fourth quarter. Greenleaf Trust now owns 1,668 shares of the financial services provider's stock valued at $561,000 after purchasing an additional 30 shares in the last quarter. Assetmark Inc. lifted its position in Jones Lang LaSalle by 15.8% during the fourth quarter. Assetmark Inc. now owns 220 shares of the financial services provider's stock valued at $74,000 after buying an additional 30 shares during the period. IFP Advisors Inc boosted its holdings in shares of Jones Lang LaSalle by 7.9% during the 3rd quarter. IFP Advisors Inc now owns 544 shares of the financial services provider's stock valued at $162,000 after buying an additional 40 shares in the last quarter. Hilton Head Capital Partners LLC grew its position in shares of Jones Lang LaSalle by 40.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 146 shares of the financial services provider's stock worth $44,000 after buying an additional 42 shares during the period. Finally, UMB Bank n.a. lifted its position in Jones Lang LaSalle by 10.6% during the 4th quarter. UMB Bank n.a. now owns 490 shares of the financial services provider's stock valued at $165,000 after acquiring an additional 47 shares during the period. Institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Stock Performance

JLL stock opened at $319.27 on Friday. The stock's 50 day simple moving average is $306.15 and its 200 day simple moving average is $317.36. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a 12-month low of $258.19 and a 12-month high of $363.06. The stock has a market capitalization of $14.81 billion, a PE ratio of 17.16 and a beta of 1.27.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.42. The firm had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share. As a group, research analysts forecast that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the completion of the transaction, the director owned 4,369 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

Wall Street Analysts Forecast Growth

JLL has been the topic of several recent research reports. UBS Group upped their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Barclays boosted their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 13th. Zacks Research raised Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings downgraded shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $394.00.

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.

Want to see what other hedge funds are holding JLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.