Jones Lang LaSalle Incorporated $JLL Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI significantly decreased its stake in Jones Lang LaSalle by 97.4% during the first quarter, reducing its holdings to just 266 shares worth $66,000.
• Jones Lang LaSalle's stock has shown notable performance, with shares trading at $293.20 and experiencing an increase in revenue by 11% year-over-year, alongside a net margin of 2.28%.
• Recent analyst sentiment is positive, with multiple upgrades and an average rating of "Moderate Buy", indicating growing confidence in Jones Lang LaSalle's future prospects.

National Bank of Canada FI decreased its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 97.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266 shares of the financial services provider's stock after selling 9,950 shares during the period. National Bank of Canada FI's holdings in Jones Lang LaSalle were worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and 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 1st quarter valued at approximately $33,000. Western Pacific Wealth Management LP purchased a new position in Jones Lang LaSalle in the 1st quarter valued at $41,000. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 253 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Jones Lang LaSalle by 39.9% in the 1st quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 105 shares in the last quarter. Finally, Quarry LP lifted its holdings in Jones Lang LaSalle by 129.9% in the 4th quarter. Quarry LP now owns 492 shares of the financial services provider's stock valued at $125,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on JLL. UBS Group raised their price objective on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group raised their price objective on Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen downgraded Jones Lang LaSalle from a "buy" rating to a "hold" rating in a research note on Saturday. JMP Securities assumed coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Citigroup cut their target price on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.14.

Jones Lang LaSalle Trading Up 3.7%

Shares of NYSE:JLL traded up $10.7020 during midday trading on Friday, reaching $303.6020. 479,194 shares of the company's stock were exchanged, compared to its average volume of 503,633. The firm's 50 day simple moving average is $264.69 and its two-hundred day simple moving average is $248.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market cap of $14.38 billion, a price-to-earnings ratio of 26.11 and a beta of 1.38. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $306.22.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping 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 company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $2.55 EPS. As a group, sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the completion of the sale, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle 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.