Great Lakes Advisors LLC Trims Stake in Jones Lang LaSalle Incorporated $JLL

Great Lakes Advisors LLC lessened its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 96.1% in the third quarter, HoldingsChannel reports. The firm owned 1,620 shares of the financial services provider’s stock after selling 40,405 shares during the quarter. Great Lakes Advisors LLC’s holdings in Jones Lang LaSalle were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new position in shares of Jones Lang LaSalle during the third quarter valued at approximately $40,417,000. FJ Capital Management LLC increased its position in Jones Lang LaSalle by 38.5% during the 2nd quarter. FJ Capital Management LLC now owns 22,352 shares of the financial services provider’s stock valued at $5,717,000 after buying an additional 6,214 shares in the last quarter. Bank of Montreal Can raised its stake in Jones Lang LaSalle by 22.6% during the second quarter. Bank of Montreal Can now owns 9,547 shares of the financial services provider’s stock valued at $2,442,000 after buying an additional 1,761 shares during the last quarter. Pacer Advisors Inc. raised its stake in Jones Lang LaSalle by 388.0% during the third quarter. Pacer Advisors Inc. now owns 8,653 shares of the financial services provider’s stock valued at $2,581,000 after buying an additional 6,880 shares during the last quarter. Finally, Boston Partners bought a new stake in Jones Lang LaSalle in the second quarter worth $12,186,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Down 0.3%

JLL opened at $357.62 on Monday. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 27.42 and a beta of 1.42. The firm has a 50 day moving average price of $340.76 and a 200-day moving average price of $311.39. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $363.06. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.49 billion. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 EPS. Equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JLL. Wall Street Zen raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. The Goldman Sachs Group raised their price objective on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. UBS Group upped their target price on shares of Jones Lang LaSalle from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price target on shares of Jones Lang LaSalle from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, Barclays started coverage on shares of Jones Lang LaSalle in a report on Tuesday, December 2nd. They issued an “equal weight” rating and a $351.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $364.17.

Insider Buying and Selling

In related news, CEO Christian Ulbrich sold 96 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $332.18, for a total transaction of $31,889.28. Following the completion of the sale, the chief executive officer owned 114,685 shares in the company, valued at approximately $38,096,063.30. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $6,609,091 in the last three months. 0.91% of the stock is currently owned by corporate insiders.

Jones Lang LaSalle Profile

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.