Wellington Management Group LLP Reduces Stock Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Wellington Management cut its Jones Lang LaSalle stake by 85% in the second quarter, selling 214,592 shares and retaining 37,866 shares valued at approximately $11.7 million. Institutional investors collectively own 94.8% of JLL.
• Analyst sentiment remains positive, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $433.60; recent targets range from $401 to $500.
• JLL reported quarterly earnings of $5.26 per share, beating estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion. Shares opened at $362.33, below the 12-month high of $393.84.

Wellington Management Group LLP trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 85.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,866 shares of the financial services provider's stock after selling 214,592 shares during the period. Wellington Management Group LLP owned approximately 0.08% of Jones Lang LaSalle worth $11,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Hilton Head Capital Partners LLC boosted its holdings in Jones Lang LaSalle by 40.4% in the first quarter. Hilton Head Capital Partners LLC now owns 146 shares of the financial services provider's stock worth $44,000 after acquiring an additional 42 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Jones Lang LaSalle by 10.6% during the fourth quarter. UMB Bank n.a. now owns 490 shares of the financial services provider's stock valued at $165,000 after acquiring an additional 47 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Jones Lang LaSalle by 5.3% in the 4th quarter. Ballentine Partners LLC now owns 951 shares of the financial services provider's stock worth $320,000 after purchasing an additional 48 shares during the last quarter. Root Financial Partners LLC boosted its stake in Jones Lang LaSalle by 27.4% in the 1st quarter. Root Financial Partners LLC now owns 223 shares of the financial services provider's stock worth $68,000 after purchasing an additional 48 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Jones Lang LaSalle by 1.0% during the 4th quarter. HighTower Advisors LLC now owns 4,740 shares of the financial services provider's stock valued at $1,595,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JLL. Barclays lifted their target price on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a report on Monday, August 17th. Raymond James Financial reissued a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Zacks Research lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods boosted their price target on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $433.60.

Insiders Place Their Bets

In other news, CEO Christian Ulbrich sold 2,000 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the sale, the chief executive officer owned 138,418 shares of the company's stock, valued at $53,364,291.54. This represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 402 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total transaction of $121,295.46. Following the completion of the transaction, the director owned 4,369 shares in the company, valued at $1,318,258.37. This trade represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,402 shares of company stock valued at $2,392,355. 0.91% of the stock is owned by company insiders.

Jones Lang LaSalle Stock Down 0.0%

Shares of Jones Lang LaSalle stock opened at $362.33 on Tuesday. Jones Lang LaSalle Incorporated has a twelve month low of $259.83 and a twelve month high of $393.84. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $350.95 and its 200 day moving average is $323.17. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 17.36 and a beta of 1.24.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. The business had revenue of $6.93 billion during the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.30 EPS. Research analysts anticipate that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current year.

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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