William Blair Investment Management LLC Sells 253,399 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• William Blair Investment Management LLC significantly reduced its stake in Jones Lang LaSalle by 68.8%, selling 253,399 shares and retaining ownership of 114,657 shares worth approximately $29.3 million.
• The company's shares opened at $300.48 on Monday, reflecting an increase of 0.7%, with a market cap of $14.24 billion and a price-to-earnings ratio of 25.84.
• Analysts have set new price targets for Jones Lang LaSalle, with some including Goldman Sachs raising their target to $378.00 and others maintaining a consensus price target of $338.29.

William Blair Investment Management LLC lowered its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 68.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,657 shares of the financial services provider's stock after selling 253,399 shares during the period. William Blair Investment Management LLC owned 0.24% of Jones Lang LaSalle worth $29,327,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Norden Group LLC bought a new position in Jones Lang LaSalle in the 1st quarter worth about $287,000. PNC Financial Services Group Inc. lifted its holdings in shares of Jones Lang LaSalle by 11.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,605 shares of the financial services provider's stock worth $646,000 after buying an additional 262 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Jones Lang LaSalle by 120.0% in the first quarter. Bridges Investment Management Inc. now owns 4,447 shares of the financial services provider's stock valued at $1,102,000 after acquiring an additional 2,426 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Jones Lang LaSalle during the first quarter valued at approximately $8,164,000. Finally, Janney Montgomery Scott LLC increased its holdings in Jones Lang LaSalle by 34.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider's stock worth $2,176,000 after acquiring an additional 2,252 shares during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Trading Up 0.7%

Shares of JLL opened at $300.48 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $322.36. The firm has a 50 day moving average price of $300.95 and a 200-day moving average price of $260.37. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 25.84 and a beta of 1.39.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, topping 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 company had revenue of $6.25 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter last year, the company earned $2.55 EPS. The firm's revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Analysts Set New Price Targets

JLL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Jones Lang LaSalle from $317.00 to $345.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Jones Lang LaSalle in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price target on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, JMP Securities assumed coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $338.29.

About Jones Lang LaSalle

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.

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