Causeway Capital Management LLC Lowers Stake in Jones Lang LaSalle Incorporated $JLL

Causeway Capital Management LLC lessened its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 30.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,710 shares of the financial services provider’s stock after selling 42,347 shares during the period. Causeway Capital Management LLC owned 0.20% of Jones Lang LaSalle worth $28,250,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its position in shares of Jones Lang LaSalle by 21.0% during the second quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock worth $568,222,000 after acquiring an additional 386,184 shares during the period. Swedbank AB increased its holdings in Jones Lang LaSalle by 5.4% during the 3rd 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 during the period. Norges Bank purchased a new position in Jones Lang LaSalle during the 2nd quarter worth $160,187,000. Alliancebernstein L.P. raised its position 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 valued at $145,646,000 after purchasing an additional 50,971 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings 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 buying an additional 46,523 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 96 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $332.18, for a total transaction of $31,889.28. Following the sale, the chief executive officer owned 114,685 shares in the company, valued at approximately $38,096,063.30. The trade was a 0.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Stock Up 0.9%

NYSE:JLL opened at $301.79 on Tuesday. 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 Incorporated has a twelve month low of $194.36 and a twelve month high of $363.06. The company has a market cap of $14.14 billion, a PE ratio of 18.39 and a beta of 1.42. The company’s 50 day moving average is $331.58 and its two-hundred day moving average is $318.68.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.25 by $1.46. The business had revenue of $7.61 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $6.15 earnings per share. Analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on JLL. Wall Street Zen upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Barclays started coverage on shares of Jones Lang LaSalle in a report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 target price on the stock. Zacks Research upgraded shares of Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, UBS Group upped their price target on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $362.50.

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.