The Manufacturers Life Insurance Company Lowers Stock Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• The Manufacturers Life Insurance Company reduced its Jones Lang LaSalle stake by 23% in the first quarter, selling 8,445 shares and retaining 28,216 shares valued at approximately $8.6 million. Institutional investors collectively own 94.8% of JLL.
• Jones Lang LaSalle reported quarterly EPS of $5.26, exceeding estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion.
• Analyst sentiment remains positive, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $417.83; shares recently traded at $367.69.

The Manufacturers Life Insurance Company cut its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,216 shares of the financial services provider's stock after selling 8,445 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Jones Lang LaSalle worth $8,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in Jones Lang LaSalle in the third quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Jones Lang LaSalle in the fourth quarter valued at approximately $29,000. Activest Wealth Management grew its holdings in Jones Lang LaSalle by 1,720.0% during the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock worth $31,000 after acquiring an additional 86 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Jones Lang LaSalle in the fourth quarter worth $35,000. Finally, Bayforest Capital Ltd purchased a new position in Jones Lang LaSalle in the fourth quarter worth $55,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 402 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $301.73, for a total transaction of $121,295.46. Following the sale, the director owned 4,369 shares in the company, valued at approximately $1,318,258.37. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Trading Up 0.4%

Jones Lang LaSalle stock opened at $367.69 on Wednesday. The stock has a 50-day moving average price of $315.56 and a 200 day moving average price of $317.43. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $369.95. The stock has a market cap of $16.92 billion, a PE ratio of 17.62 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. During the same period in the prior year, the firm earned $3.30 EPS. The firm's quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a research report on Monday. Barclays raised their price objective on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. UBS Group upped their target price on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Weiss Ratings cut shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a report 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 Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Jones Lang LaSalle presently has an average rating of "Moderate Buy" and a consensus price target of $417.83.

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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