The Manufacturers Life Insurance Company Trims Stock Position in Jones Lang LaSalle Incorporated $JLL

The Manufacturers Life Insurance Company trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 23.0% during the first quarter, Holdings Channel reports. The institutional investor owned 28,216 shares of the financial services provider’s stock after selling 8,445 shares during the period. The Manufacturers Life Insurance Company’s holdings in Jones Lang LaSalle were worth $8,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Moran Wealth Management LLC purchased a new position in Jones Lang LaSalle during the first quarter worth approximately $4,405,000. Geode Capital Management LLC grew its stake in shares of Jones Lang LaSalle by 1.6% during the 4th 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 period. Thrivent Financial for Lutherans increased its holdings in shares of Jones Lang LaSalle by 78.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider’s stock worth $9,723,000 after buying an additional 12,699 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Jones Lang LaSalle in the 4th quarter worth $1,507,000. Finally, Principal Financial Group Inc. boosted its holdings in Jones Lang LaSalle by 279.6% in the first quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider’s stock valued at $130,683,000 after acquiring an additional 316,299 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Insider Buying and Selling at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the sale, the director directly owned 4,771 shares of the company’s stock, valued at approximately $1,408,112.94. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.91% of the company’s stock.

Analyst Upgrades and Downgrades

JLL has been the subject of a number of research reports. Raymond James Financial reissued a “strong-buy” rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a research note on Monday. Barclays increased their target price on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Finally, Zacks Research downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Jones Lang LaSalle presently has a consensus rating of “Moderate Buy” and an average price target of $417.83.

Jones Lang LaSalle Price Performance

Shares of NYSE JLL opened at $367.69 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.40 and a quick ratio of 2.40. Jones Lang LaSalle Incorporated has a 1-year low of $259.83 and a 1-year high of $369.95. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 17.62 and a beta of 1.25. The business has a 50-day moving average of $315.56 and a 200-day moving average of $317.43.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.70. The firm had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.Jones Lang LaSalle’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 EPS. On average, equities analysts anticipate that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current fiscal year.

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.