Bank of America Corp DE Sells 11,718 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Bank of America Corp DE decreased its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 252,783 shares of the financial services provider's stock after selling 11,718 shares during the period. Bank of America Corp DE owned approximately 0.53% of Jones Lang LaSalle worth $63,989,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in JLL. Norges Bank bought a new position in shares of Jones Lang LaSalle in the 4th quarter worth about $149,468,000. SG Americas Securities LLC raised its position in shares of Jones Lang LaSalle by 7,967.8% during the fourth quarter. SG Americas Securities LLC now owns 279,065 shares of the financial services provider's stock valued at $70,643,000 after buying an additional 275,606 shares during the last quarter. Marshall Wace LLP raised its position in shares of Jones Lang LaSalle by 134.5% during the fourth quarter. Marshall Wace LLP now owns 373,207 shares of the financial services provider's stock valued at $94,474,000 after buying an additional 214,087 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Jones Lang LaSalle in the fourth quarter worth $29,271,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Jones Lang LaSalle by 688.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,752 shares of the financial services provider's stock worth $32,603,000 after buying an additional 114,168 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Price Performance

NYSE:JLL traded up $0.50 during midday trading on Friday, hitting $236.04. 400,504 shares of the stock were exchanged, compared to its average volume of 323,285. The company has a current ratio of 2.00, a quick ratio of 2.29 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $232.01 and a two-hundred day moving average price of $254.44. Jones Lang LaSalle Incorporated has a one year low of $192.94 and a one year high of $288.50. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 20.91 and a beta of 1.33.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results 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. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the company earned $1.78 EPS. The firm's revenue was up 12.1% on a year-over-year basis. Sell-side analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JLL. UBS Group dropped their target price on shares of Jones Lang LaSalle from $340.00 to $305.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Raymond James lifted their price target on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the company a "strong-buy" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods reduced their price objective on shares of Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Jones Lang LaSalle has a consensus rating of "Buy" and an average target price of $315.83.

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.