Versor Investments LP Sells 1,400 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Versor Investments LP has decreased its stake in Jones Lang LaSalle Incorporated by 26.9%, selling 1,400 shares and holding 3,804 shares valued at approximately $943,000 as of the last reporting period.
• Several analysts have recently provided mixed ratings for JLL, with Keefe, Bruyette & Woods raising their price objective from $280 to $297 and the consensus rating being a "Moderate Buy" with an average price target of $316.14.
• Jones Lang LaSalle's recent quarterly earnings showed an EPS of $3.30, exceeding expectations of $3.20 and indicating a 11% year-over-year revenue growth with total revenues of $6.25 billion.

Versor Investments LP lowered its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 26.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,804 shares of the financial services provider's stock after selling 1,400 shares during the quarter. Versor Investments LP's holdings in Jones Lang LaSalle were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of JLL. Golden State Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle during the first quarter valued at about $33,000. Western Pacific Wealth Management LP purchased a new position in shares of Jones Lang LaSalle during the first quarter valued at about $41,000. Versant Capital Management Inc increased its position in shares of Jones Lang LaSalle by 356.3% during the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock valued at $80,000 after buying an additional 253 shares during the period. Covestor Ltd increased its position in shares of Jones Lang LaSalle by 30.4% during the first quarter. Covestor Ltd now owns 335 shares of the financial services provider's stock valued at $83,000 after buying an additional 78 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Jones Lang LaSalle by 39.9% in the first quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock worth $91,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

JLL has been the topic of a number of recent research reports. UBS Group upped their price objective on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citigroup cut their price objective on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. The Goldman Sachs Group upped their price objective on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $316.14.

Insiders Place Their Bets

In related news, CEO Andrew W. Poppink sold 275 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the transaction, the chief executive officer owned 10,297 shares in the company, valued at $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Stock Up 3.7%

Shares of NYSE:JLL traded up $10.7020 during trading on Friday, reaching $303.6020. 479,194 shares of the stock traded hands, compared to its average volume of 515,467. The stock has a 50-day moving average of $264.69 and a two-hundred day moving average of $248.55. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $306.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $14.38 billion, a P/E ratio of 26.11 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $0.10. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The firm had revenue of $6.25 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Jones Lang LaSalle Company 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.