Hsbc Holdings PLC Sells 12,068 Shares of Jones Lang LaSalle Incorporated $JLL

Hsbc Holdings PLC cut its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 72.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,489 shares of the financial services provider’s stock after selling 12,068 shares during the quarter. Hsbc Holdings PLC’s holdings in Jones Lang LaSalle were worth $1,366,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in JLL. Sunbelt Securities Inc. bought a new position in Jones Lang LaSalle in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of Jones Lang LaSalle in the fourth quarter worth $29,000. Activest Wealth Management boosted its position in shares of Jones Lang LaSalle by 1,720.0% during the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 86 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Jones Lang LaSalle during the fourth quarter valued at $35,000. Finally, Bayforest Capital Ltd bought a new stake in Jones Lang LaSalle in the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analysts Set New Price Targets

JLL has been the subject of several research reports. UBS Group increased their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Zacks Research downgraded Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Barclays increased their price target on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings downgraded Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

Insider Activity

In other news, Director Larry Quinlan sold 402 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the completion of the sale, the director directly owned 4,369 shares of the company’s stock, valued at $1,318,258.37. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is owned by insiders.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock opened at $333.42 on Tuesday. The company’s 50-day moving average price is $307.76 and its 200-day moving average price is $317.07. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. The company has a market cap of $15.47 billion, a PE ratio of 17.93 and a beta of 1.27. Jones Lang LaSalle Incorporated has a twelve month low of $259.83 and a twelve month high of $363.06.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the firm earned $2.31 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 22.86 EPS for the current fiscal year.

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.