Peapack Gladstone Financial Corp Decreases Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

Peapack Gladstone Financial Corp cut its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,224 shares of the financial services provider’s stock after selling 164 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Jones Lang LaSalle were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Jones Lang LaSalle by 40.2% during the 4th quarter. Russell Investments Group Ltd. now owns 52,135 shares of the financial services provider’s stock valued at $13,197,000 after acquiring an additional 14,949 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Jones Lang LaSalle by 23.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 162,578 shares of the financial services provider’s stock valued at $41,155,000 after purchasing an additional 30,837 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Jones Lang LaSalle by 418.3% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,628 shares of the financial services provider’s stock worth $1,172,000 after purchasing an additional 3,735 shares during the last quarter. Wells Fargo & Company MN grew its position in Jones Lang LaSalle by 39.3% in the 4th quarter. Wells Fargo & Company MN now owns 72,683 shares of the financial services provider’s stock worth $18,399,000 after purchasing an additional 20,516 shares during the period. Finally, Riverwater Partners LLC lifted its holdings in shares of Jones Lang LaSalle by 2.9% during the 4th quarter. Riverwater Partners LLC now owns 5,246 shares of the financial services provider’s stock valued at $1,328,000 after buying an additional 148 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JLL has been the subject of several research analyst reports. Raymond James lifted their price objective on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, January 24th. StockNews.com upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 22nd. Keefe, Bruyette & Woods upgraded shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $292.00 to $325.00 in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $309.00.

Jones Lang LaSalle Price Performance

NYSE JLL opened at $207.72 on Wednesday. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 18.40 and a beta of 1.22. Jones Lang LaSalle Incorporated has a 12 month low of $171.45 and a 12 month high of $288.50. The company’s 50 day moving average is $259.34 and its two-hundred day moving average is $263.04. The company has a current ratio of 2.00, a quick ratio of 2.29 and a debt-to-equity ratio of 0.12.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.76 by $0.39. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.65 billion. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. Jones Lang LaSalle’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.23 EPS. As a group, research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

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.