Retirement Systems of Alabama Lowers Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

Retirement Systems of Alabama cut its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,191 shares of the financial services provider's stock after selling 10,643 shares during the period. Retirement Systems of Alabama owned about 0.15% of Jones Lang LaSalle worth $17,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JLL. Tidal Investments LLC grew its stake in Jones Lang LaSalle by 4.7% in the 4th quarter. Tidal Investments LLC now owns 846 shares of the financial services provider's stock valued at $214,000 after purchasing an additional 38 shares during the period. Hudson Edge Investment Partners Inc. grew its position in Jones Lang LaSalle by 3.1% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,332 shares of the financial services provider's stock valued at $337,000 after buying an additional 40 shares during the period. Ellevest Inc. increased its holdings in Jones Lang LaSalle by 3.7% during the fourth quarter. Ellevest Inc. now owns 1,326 shares of the financial services provider's stock worth $336,000 after buying an additional 47 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Jones Lang LaSalle by 25.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock worth $62,000 after acquiring an additional 50 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Jones Lang LaSalle by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 12,096 shares of the financial services provider's stock valued at $3,062,000 after acquiring an additional 50 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Price Performance

NYSE JLL traded up $1.20 on Friday, hitting $238.64. The stock had a trading volume of 465,921 shares, compared to its average volume of 340,178. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $288.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 21.58 and a beta of 1.31. The firm has a 50-day moving average of $226.91 and a 200-day moving average of $247.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.29. Jones Lang LaSalle had a net margin of 2.23% and a return on equity of 10.37%. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the prior year, the company posted $1.78 EPS. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on JLL shares. UBS Group reduced their target price on shares of Jones Lang LaSalle from $340.00 to $305.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Citigroup reduced their target price on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Wall Street Zen downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price target on shares of Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Jones Lang LaSalle currently has an average rating of "Buy" and a consensus price target of $305.00.

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.