Jones Lang LaSalle Incorporated $JLL Shares Sold by Renaissance Group LLC

Renaissance Group LLC lessened its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,016 shares of the financial services provider’s stock after selling 5,769 shares during the period. Jones Lang LaSalle comprises about 1.6% of Renaissance Group LLC’s portfolio, making the stock its 9th largest holding. Renaissance Group LLC’s holdings in Jones Lang LaSalle were worth $40,045,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of JLL. M&T Bank Corp lifted its stake in Jones Lang LaSalle by 184,969.0% in the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock valued at $1,300,201,000 after purchasing an additional 3,862,153 shares during the last quarter. Swedbank AB raised its stake in Jones Lang LaSalle by 0.5% in the fourth quarter. Swedbank AB now owns 993,742 shares of the financial services provider’s stock valued at $334,364,000 after buying an additional 4,543 shares during the period. Geode Capital Management LLC lifted its position in shares of Jones Lang LaSalle by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock valued at $333,451,000 after buying an additional 15,995 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Jones Lang LaSalle by 5.2% during the 3rd quarter. Alliancebernstein L.P. now owns 598,980 shares of the financial services provider’s stock worth $178,664,000 after acquiring an additional 29,560 shares during the period. Finally, Norges Bank acquired a new position in shares of Jones Lang LaSalle during the 4th quarter worth approximately $194,950,000. 94.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays raised their price target on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. 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 research report on Wednesday, April 22nd. Zacks Research cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Weiss Ratings lowered shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $394.00.

Jones Lang LaSalle Price Performance

JLL stock opened at $298.30 on Thursday. The company’s 50-day moving average price is $312.24 and its two-hundred day moving average price is $321.22. The firm has a market cap of $13.84 billion, a P/E ratio of 16.04 and a beta of 1.29. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a 12 month low of $233.14 and a 12 month high of $363.06.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.31 EPS. On average, analysts anticipate that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction on Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the transaction, the director owned 4,771 shares in the company, valued at approximately $1,408,112.94. This trade represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Bloxam sold 5,440 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total value of $1,615,353.60. The SEC filing for this sale provides additional information. Company insiders own 0.91% of the company’s stock.

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.