Jones Lang LaSalle Incorporated $JLL Shares Sold by Massachusetts Financial Services Co. MA

by · The Markets Daily

Massachusetts Financial Services Co. MA lessened its stake in Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) by 2.2% in the third quarter, Holdings Channel reports. The institutional investor owned 752,395 shares of the financial services provider’s stock after selling 17,165 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Jones Lang LaSalle were worth $224,424,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. increased its position in shares of Jones Lang LaSalle by 21.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock worth $568,222,000 after purchasing an additional 386,184 shares during the last quarter. Swedbank AB grew its stake in Jones Lang LaSalle by 5.4% in the third quarter. Swedbank AB now owns 989,199 shares of the financial services provider’s stock worth $295,058,000 after purchasing an additional 51,050 shares in the last quarter. Norges Bank bought a new stake in Jones Lang LaSalle in the second quarter valued at about $160,187,000. Alliancebernstein L.P. lifted its holdings in Jones Lang LaSalle by 9.8% during the 2nd quarter. Alliancebernstein L.P. now owns 569,420 shares of the financial services provider’s stock worth $145,646,000 after buying an additional 50,971 shares during the last quarter. Finally, Bamco Inc. NY grew its position in shares of Jones Lang LaSalle by 9.9% in the 2nd quarter. Bamco Inc. NY now owns 518,364 shares of the financial services provider’s stock worth $132,587,000 after acquiring an additional 46,523 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $330.33, for a total transaction of $1,651,650.00. Following the sale, the chief executive officer directly owned 134,685 shares in the company, valued at approximately $44,490,496.05. The trade was a 3.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $6,609,091. 0.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JLL. UBS Group upped their price target on Jones Lang LaSalle from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Friday, October 10th. The Goldman Sachs Group raised their price target on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Barclays began coverage on shares of Jones Lang LaSalle in a report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus price target of $350.71.

Read Our Latest Analysis on Jones Lang LaSalle

Jones Lang LaSalle Stock Up 0.4%

JLL opened at $355.46 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.31. Jones Lang LaSalle Incorporated has a 12 month low of $194.36 and a 12 month high of $357.44. The stock’s 50 day moving average price is $331.46 and its 200 day moving average price is $305.11. The stock has a market cap of $16.77 billion, a P/E ratio of 27.26 and a beta of 1.42.

Jones Lang LaSalle (NYSE:JLL – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.26. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the prior year, the business posted $3.50 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Jones Lang LaSalle Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding JLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report).