UBS Group AG Cuts Stake in Jones Lang LaSalle Incorporated $JLL

Key Points

• UBS Group AG cut its stake in JLL by 58.5% in the fourth quarter, selling 89,670 shares and ending with 63,729 shares valued at about $21.4 million.
• JLL reported stronger-than-expected quarterly results, with EPS of $3.43 topping estimates and revenue of $6.39 billion, up 11.1% year over year.
• Wall Street remains moderately positive on JLL, with a consensus “Moderate Buy” rating and an average price target of $365.33, despite some mixed analyst updates and recent insider selling.

UBS Group AG lessened its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 58.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,729 shares of the financial services provider's stock after selling 89,670 shares during the period. UBS Group AG owned approximately 0.14% of Jones Lang LaSalle worth $21,443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in Jones Lang LaSalle by 30.7% in the fourth quarter. Sanctuary Advisors LLC now owns 4,205 shares of the financial services provider's stock worth $1,415,000 after acquiring an additional 987 shares in the last quarter. Advisors Capital Management LLC raised its position in shares of Jones Lang LaSalle by 0.6% in the 4th quarter. Advisors Capital Management LLC now owns 30,203 shares of the financial services provider's stock valued at $10,162,000 after purchasing an additional 170 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Jones Lang LaSalle by 71.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 45,238 shares of the financial services provider's stock worth $15,221,000 after purchasing an additional 18,912 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Jones Lang LaSalle by 65.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,338 shares of the financial services provider's stock worth $828,000 after purchasing an additional 925 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Jones Lang LaSalle during the 4th quarter valued at approximately $310,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Price Performance

NYSE:JLL opened at $323.35 on Tuesday. The firm's fifty day moving average is $315.40 and its two-hundred day moving average is $322.72. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 17.38 and a beta of 1.34. Jones Lang LaSalle Incorporated has a one year low of $211.86 and a one year high of $363.06. 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 (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.42. The business had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. Research analysts expect that Jones Lang LaSalle Incorporated will post 22.35 EPS for the current year.

Insider Activity at Jones Lang LaSalle

In other news, Director Deborah H. Mcaneny sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the sale, the director owned 14,985 shares of the company's stock, valued at $4,502,992.50. This trade represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Bloxam sold 5,440 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total transaction of $1,615,353.60. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.91% of the company's stock.

Wall Street Analysts Forecast Growth

JLL has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods dropped their price target on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Finally, Barclays decreased their target price on Jones Lang LaSalle from $355.00 to $348.00 and set an "equal weight" rating for the company in a report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Jones Lang LaSalle has a consensus rating of "Moderate Buy" and an average target price of $365.33.

About Jones Lang LaSalle

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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