Panagora Asset Management Inc. Sells 32,436 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Panagora Asset Management Inc. reduced its stake in Jones Lang LaSalle by 85.7%, selling 32,436 shares and leaving it with only 5,421 shares valued at $1,344,000.
• Other institutional investors, such as Allianz Asset Management and GAMMA Investing, significantly increased their holdings during the same period, indicating mixed sentiment among hedge funds.
• Jones Lang LaSalle recently reported earnings of $3.30 EPS, exceeding analyst expectations, along with revenue of $6.25 billion for the quarter, up 11% year-over-year.

Panagora Asset Management Inc. lessened its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 85.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,421 shares of the financial services provider's stock after selling 32,436 shares during the quarter. Panagora Asset Management Inc.'s holdings in Jones Lang LaSalle were worth $1,344,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in JLL. Norden Group LLC acquired a new stake in shares of Jones Lang LaSalle during the 1st quarter valued at approximately $287,000. PNC Financial Services Group Inc. lifted its holdings in Jones Lang LaSalle by 11.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,605 shares of the financial services provider's stock worth $646,000 after purchasing an additional 262 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Jones Lang LaSalle by 120.0% in the 1st quarter. Bridges Investment Management Inc. now owns 4,447 shares of the financial services provider's stock valued at $1,102,000 after purchasing an additional 2,426 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Jones Lang LaSalle during the 1st quarter worth approximately $8,164,000. Finally, Janney Montgomery Scott LLC grew its holdings in Jones Lang LaSalle by 34.5% during the first quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider's stock valued at $2,176,000 after purchasing an additional 2,252 shares during the period. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Stock Performance

Shares of JLL traded up $0.71 during midday trading on Monday, reaching $312.20. 206,828 shares of the stock were exchanged, compared to its average volume of 405,129. The company has a market cap of $14.79 billion, a P/E ratio of 26.85 and a beta of 1.41. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $276.92 and its 200 day simple moving average is $250.44. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $315.14.

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. On average, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. JMP Securities began coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. The Goldman Sachs Group boosted their target price on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Jones Lang LaSalle has a consensus rating of "Moderate Buy" and a consensus target price of $328.57.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $237.97, for a total value of $65,441.75. Following the sale, the chief executive officer owned 10,297 shares of the company's stock, valued at $2,450,377.09. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.91% of the company's stock.

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.