Plato Investment Management Ltd Decreases Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Plato Investment Management Ltd reduced its holdings in Jones Lang LaSalle Incorporated by 60.2%, selling 3,518 shares to end up with 2,325 shares valued at $583,000.
• Several institutional investors, including Golden State Wealth Management LLC and SVB Wealth LLC, acquired new positions in Jones Lang LaSalle during the 1st quarter, indicating growing interest, with 94.80% of the stock currently owned by institutional investors.
• Jones Lang LaSalle reported a quarterly EPS of $3.30, surpassing analysts' expectations, with an 11% increase in revenue compared to the previous year, totaling $6.25 billion.

Plato Investment Management Ltd cut its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 60.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,325 shares of the financial services provider's stock after selling 3,518 shares during the period. Plato Investment Management Ltd's holdings in Jones Lang LaSalle were worth $583,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in JLL. Golden State Wealth Management LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter worth $33,000. SVB Wealth LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter worth $38,000. Western Pacific Wealth Management LP acquired a new position in shares of Jones Lang LaSalle during the first quarter worth $41,000. Versant Capital Management Inc increased its position in shares of Jones Lang LaSalle by 356.3% during the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after purchasing an additional 253 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Jones Lang LaSalle by 142.1% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 189 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JLL. JMP Securities began coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Citizens Jmp began coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. UBS Group upped their target price 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. JPMorgan Chase & Co. upped their target price 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. Finally, The Goldman Sachs Group upped their target price on Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Jones Lang LaSalle presently has a consensus rating of "Moderate Buy" and a consensus target price of $328.57.

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 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. This trade represents a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by insiders.

Jones Lang LaSalle Price Performance

Shares of JLL stock traded up $6.74 during mid-day trading on Wednesday, hitting $318.58. 89,457 shares of the stock were exchanged, compared to its average volume of 405,724. The firm has a fifty day moving average of $284.31 and a 200 day moving average of $252.70. 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 Incorporated has a 52-week low of $194.36 and a 52-week high of $319.95. The company has a market cap of $15.09 billion, a PE ratio of 27.37 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its 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 prior year, the company posted $2.55 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

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.