Jones Lang LaSalle Incorporated (NYSE:JLL) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Jones Lang LaSalle by 23.7% during the first quarter, now owning approximately $21.79 million worth of the stock.
• Jones Lang LaSalle reported a quarterly revenue of $5.75 billion, surpassing analysts' expectations, and achieved an earnings per share (EPS) of $2.31.
• Despite recent decreases in some analysts' ratings, Jones Lang LaSalle's stock has an average rating of "Moderate Buy" with an average target price of $312.43.

TD Asset Management Inc trimmed its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,906 shares of the financial services provider's stock after selling 27,288 shares during the quarter. TD Asset Management Inc owned 0.19% of Jones Lang LaSalle worth $21,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JLL. Tidal Investments LLC raised its stake in shares of Jones Lang LaSalle by 4.7% in the fourth quarter. Tidal Investments LLC now owns 846 shares of the financial services provider's stock valued at $214,000 after buying an additional 38 shares during the period. Ellevest Inc. grew its holdings in shares of Jones Lang LaSalle by 3.7% in the fourth quarter. Ellevest Inc. now owns 1,326 shares of the financial services provider's stock worth $336,000 after purchasing an additional 47 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake 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. Bessemer Group Inc. grew its position in shares of Jones Lang LaSalle by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 12,096 shares of the financial services provider's stock worth $3,062,000 after buying an additional 50 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in Jones Lang LaSalle by 1.3% in the fourth quarter. Hancock Whitney Corp now owns 4,289 shares of the financial services provider's stock worth $1,086,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Trading Down 1.8%

NYSE:JLL traded down $4.88 during midday trading on Friday, hitting $265.48. The stock had a trading volume of 404,095 shares, compared to its average volume of 398,490. The stock has a 50-day moving average of $246.12 and a 200 day moving average of $247.43. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 24.00 and a beta of 1.34. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $288.50. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.17.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JLL shares. Wall Street Zen lowered shares of Jones Lang LaSalle from a "buy" rating to a "hold" rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. UBS Group raised their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, JMP Securities began coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $312.43.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 10,297 shares in the company, valued at approximately $2,450,377.09. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.91% of the company's stock.

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.