Renaissance Group LLC Sells 5,769 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Renaissance Group LLC reduced its stake in Jones Lang LaSalle by 4.6% in the fourth quarter, selling 5,769 shares and leaving it with 119,016 shares valued at about $40.0 million. JLL remained its 9th-largest holding and represented 1.6% of the portfolio.
• Analyst sentiment is mixed but still constructive, with JLL carrying a consensus rating of “Moderate Buy” and an average price target of $394.00. Recent moves included higher targets from UBS and Barclays, while Zacks Research and Weiss Ratings issued downgrades.
• JLL reported strong quarterly results, beating earnings and revenue estimates with EPS of $3.43 versus $3.01 expected and revenue of $6.39 billion, up 11.1% year over year. Despite the solid results, the stock was down 2.4% in Thursday trading and insider selling was also noted.

Renaissance Group LLC trimmed its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,016 shares of the financial services provider's stock after selling 5,769 shares during the quarter. Jones Lang LaSalle makes up 1.6% of Renaissance Group LLC's portfolio, making the stock its 9th biggest position. Renaissance Group LLC owned 0.25% of Jones Lang LaSalle worth $40,045,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Greenleaf Trust grew its position in shares of Jones Lang LaSalle by 1.8% during the 4th quarter. Greenleaf Trust now owns 1,668 shares of the financial services provider's stock worth $561,000 after buying an additional 30 shares during the period. Assetmark Inc. boosted its stake in Jones Lang LaSalle by 15.8% in the fourth quarter. Assetmark Inc. now owns 220 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 30 shares during the last quarter. IFP Advisors Inc grew its holdings in Jones Lang LaSalle by 7.9% during the 3rd quarter. IFP Advisors Inc now owns 544 shares of the financial services provider's stock worth $162,000 after acquiring an additional 40 shares during the period. Ballentine Partners LLC raised its position in shares of Jones Lang LaSalle by 5.3% during the 4th quarter. Ballentine Partners LLC now owns 951 shares of the financial services provider's stock valued at $320,000 after acquiring an additional 48 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Jones Lang LaSalle by 1.0% in the 4th quarter. HighTower Advisors LLC now owns 4,740 shares of the financial services provider's stock valued at $1,595,000 after purchasing an additional 49 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JLL. UBS Group lifted their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Barclays increased their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 13th. Keefe, Bruyette & Woods reduced their target price on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Weiss Ratings cut Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Finally, Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Jones Lang LaSalle currently has a consensus rating of "Moderate Buy" and an average target price of $394.00.

Jones Lang LaSalle Stock Down 2.4%

Shares of Jones Lang LaSalle stock opened at $298.30 on Thursday. The firm has a market cap of $13.84 billion, a PE ratio of 16.04 and a beta of 1.29. The business's 50 day simple moving average is $312.24 and its 200 day simple moving average is $321.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35. Jones Lang LaSalle Incorporated has a 52-week low of $233.14 and a 52-week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the sale, the director owned 4,771 shares of the company's stock, valued at approximately $1,408,112.94. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Bloxam sold 5,440 shares of the company's stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total value of $1,615,353.60. Additional details regarding this sale are available in the official SEC disclosure. 0.91% of the stock is currently owned by insiders.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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