Millennium Management LLC lessened its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 26.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 247,454 shares of the financial services provider's stock after selling 87,997 shares during the period. Millennium Management LLC owned 0.52% of Jones Lang LaSalle worth $61,346,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle during the first quarter valued at about $33,000. SVB Wealth LLC bought a new position in shares of Jones Lang LaSalle in the 1st quarter valued at about $38,000. Western Pacific Wealth Management LP bought a new position in shares of Jones Lang LaSalle in the 1st quarter valued at about $41,000. Versant Capital Management Inc lifted its holdings in shares of Jones Lang LaSalle by 356.3% in the 1st quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 253 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock worth $80,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on JLL shares. JMP Securities started coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods lifted their price target on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $328.57.
Check Out Our Latest Report on Jones Lang LaSalle
Jones Lang LaSalle Stock Down 0.6%
NYSE JLL traded down $1.99 on Friday, hitting $312.42. The stock had a trading volume of 523,801 shares, compared to its average volume of 386,353. The business's fifty day moving average price is $282.09 and its 200 day moving average price is $252.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $316.79. The stock has a market cap of $14.80 billion, a price-to-earnings ratio of 26.86 and a beta of 1.41.
Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.
Insider Transactions at Jones Lang LaSalle
In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle stock in a transaction on Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the transaction, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.91% of the company's stock.
About Jones Lang LaSalle
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Free Report)
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.
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