Vestcor Inc Reduces Stock Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Vestcor Inc reduced its holdings in Jones Lang LaSalle by 25.0%, ending the first quarter with 3,001 shares worth $744,000.
• Institutional investors and hedge funds own 94.80% of Jones Lang LaSalle's stock, highlighting significant market interest.
• Analysts have varied opinions on the stock, with price targets ranging from $240.00 to $297.00, leading to a consensus rating of "Moderate Buy."

Vestcor Inc trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 25.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,001 shares of the financial services provider's stock after selling 999 shares during the quarter. Vestcor Inc's holdings in Jones Lang LaSalle were worth $744,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Jones Lang LaSalle during the 1st quarter valued at $33,000. Western Pacific Wealth Management LP bought a new position in Jones Lang LaSalle in the 1st quarter worth $41,000. CIBC Private Wealth Group LLC raised its holdings in Jones Lang LaSalle by 25.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock worth $62,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc raised its holdings in Jones Lang LaSalle by 356.3% in the 1st quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after purchasing an additional 253 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Jones Lang LaSalle by 39.9% in the 1st 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 in the last quarter. 94.80% of the stock is currently owned by institutional investors.

Jones Lang LaSalle Stock Up 1.9%

NYSE JLL traded up $4.96 during mid-day trading on Monday, reaching $270.31. The stock had a trading volume of 303,805 shares, compared to its average volume of 397,845. The stock has a market cap of $12.83 billion, a PE ratio of 24.44 and a beta of 1.38. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $288.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.01 and a quick ratio of 2.01. The company has a fifty day moving average price of $247.11 and a 200 day moving average price of $247.47.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on JLL. JPMorgan Chase & Co. decreased their price objective on shares of Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods upped their target price on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. UBS Group upped 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 report on Wednesday, July 2nd. Finally, JMP Securities started coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Four investment 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. According to data from MarketBeat, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and an average price target of $312.43.

Insider Activity

In other news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the sale, the chief executive officer owned 10,297 shares of the company's stock, valued at $2,450,377.09. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is currently owned by insiders.

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.