Jones Lang LaSalle (NYSE:JLL) Trading Down 7% - Time to Sell?

Key Points

• Shares fell about 7% to $314.90 on Thursday with roughly 260,034 shares trading—about 49% below average—after closing at $338.66 the prior session.
• Jones Lang LaSalle beat quarterly estimates, reporting EPS of $3.43 versus $2.95 expected and revenue of $6.39B versus $5.97B, with revenue up 11.1% year-over-year.
• Analyst sentiment is mixed—consensus is a Moderate Buy with an average price target of $365.33 (UBS at $445 while some firms cut targets)—and insiders recently sold shares while institutional ownership remains very high at 94.8%.

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report) were down 7% on Thursday . The company traded as low as $313.50 and last traded at $314.9030. Approximately 260,034 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 506,936 shares. The stock had previously closed at $338.66.

Analysts Set New Price Targets

A number of research analysts have weighed in on JLL shares. Keefe, Bruyette & Woods decreased their price objective on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Wall Street Zen upgraded Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a report on Sunday, January 11th. Barclays decreased their price objective on Jones Lang LaSalle from $355.00 to $348.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Zacks Research lowered Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Finally, UBS Group lifted their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $365.33.

Jones Lang LaSalle Stock Performance

The firm has a market cap of $14.78 billion, a PE ratio of 19.42 and a beta of 1.41. The firm has a fifty day moving average price of $314.14 and a 200 day moving average price of $321.58. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.10.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.48. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $5.97 billion. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. Jones Lang LaSalle's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. As a group, equities research analysts expect that Jones Lang LaSalle Incorporated will post 21.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard Bloxam sold 5,440 shares of the business's stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total value of $1,615,353.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deborah H. Mcaneny sold 2,500 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the sale, the director owned 14,985 shares in the company, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jones Lang LaSalle

Institutional investors have recently bought and sold shares of the company. Equity Investment Corp acquired a new position in Jones Lang LaSalle in the 3rd quarter valued at about $72,132,000. Hennessy Advisors Inc. acquired a new position in Jones Lang LaSalle in the 3rd quarter valued at about $40,417,000. Y Intercept Hong Kong Ltd acquired a new position in Jones Lang LaSalle in the 3rd quarter valued at about $1,143,000. Pacer Advisors Inc. grew its position in shares of Jones Lang LaSalle by 388.0% during the third quarter. Pacer Advisors Inc. now owns 8,653 shares of the financial services provider's stock worth $2,581,000 after buying an additional 6,880 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new position in shares of Jones Lang LaSalle during the third quarter worth about $1,223,000. 94.80% of the stock is owned by institutional investors and hedge funds.

About Jones Lang LaSalle

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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