Perigon Wealth Management LLC Lowers Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• Perigon Wealth Management LLC significantly reduced its stake in Jones Lang LaSalle by 89.8%, leaving it with only 928 shares valued at $237,000.
• Jones Lang LaSalle reported $3.30 earnings per share for the latest quarter, exceeding expectations, with an increase in revenue of 11.0% year-over-year.
• Analyst ratings for JLL are generally positive, with a moderate buy consensus and price objectives raised by major firms, including a target of $372.00 by JPMorgan Chase & Co.

Perigon Wealth Management LLC trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 89.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 928 shares of the financial services provider's stock after selling 8,213 shares during the period. Perigon Wealth Management LLC's holdings in Jones Lang LaSalle were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle in the first quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Jones Lang LaSalle by 322.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after buying an additional 100 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Jones Lang LaSalle in the first quarter worth about $38,000. Western Pacific Wealth Management LP purchased a new stake in shares of Jones Lang LaSalle in the first quarter worth about $41,000. Finally, Versant Capital Management Inc lifted its position in shares of Jones Lang LaSalle by 356.3% in the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after buying an additional 253 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Down 0.4%

Shares of NYSE:JLL opened at $297.18 on Thursday. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $322.36. The stock has a market cap of $14.08 billion, a P/E ratio of 25.55 and a beta of 1.39. The business's 50 day moving average is $295.75 and its 200 day moving average is $256.78. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16.

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, topping the consensus estimate of $3.20 by $0.10. The company had revenue of $6.25 billion for the quarter, compared to analysts' expectations of $6.17 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.Jones Lang LaSalle's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Sell-side analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Analyst Upgrades and Downgrades

JLL has been the topic of a number of research analyst reports. Wall Street Zen upgraded Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. JMP Securities assumed coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Citizens Jmp assumed coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. UBS Group upped their price objective on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $328.57.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.