UBS Asset Management Americas Inc. cut its stake in Jones Lang LaSalle Inc (NYSE:JLL) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,383 shares of the financial services provider’s stock after selling 22,241 shares during the period. UBS Asset Management Americas Inc.’s holdings in Jones Lang LaSalle were worth $29,036,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of JLL. Steward Partners Investment Advisory LLC acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at approximately $25,000. Cullen Frost Bankers Inc. boosted its position in Jones Lang LaSalle by 9,100.0% during the second quarter. Cullen Frost Bankers Inc. now owns 184 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 182 shares during the last quarter. Advisory Services Network LLC boosted its position in Jones Lang LaSalle by 268.5% during the second quarter. Advisory Services Network LLC now owns 199 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 145 shares during the last quarter. Synovus Financial Corp boosted its position in Jones Lang LaSalle by 340.3% during the first quarter. Synovus Financial Corp now owns 273 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 211 shares during the last quarter. Finally, First Bank & Trust acquired a new stake in Jones Lang LaSalle during the second quarter worth approximately $88,000. 82.38% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on JLL. UBS Group raised their target price on shares of Jones Lang LaSalle from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. DA Davidson began coverage on shares of Jones Lang LaSalle in a research report on Thursday, July 11th. They set a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on shares of Jones Lang LaSalle in a research report on Wednesday, July 17th. They set an “overweight” rating and a $140.23 target price on the stock. Finally, Compass Point assumed coverage on shares of Jones Lang LaSalle in a research report on Wednesday, July 10th. They set a “buy” rating and a $180.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Jones Lang LaSalle has an average rating of “Hold” and a consensus price target of $173.91.
Shares of JLL traded up $0.40 during mid-day trading on Monday, reaching $139.71. The company had a trading volume of 11,960 shares, compared to its average volume of 283,509. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.75. The firm has a fifty day simple moving average of $136.49 and a 200-day simple moving average of $142.03. Jones Lang LaSalle Inc has a fifty-two week low of $119.79 and a fifty-two week high of $173.32. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.44.
Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.61. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. Jones Lang LaSalle had a net margin of 2.76% and a return on equity of 15.79%. Jones Lang LaSalle’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.26 EPS. As a group, equities analysts predict that Jones Lang LaSalle Inc will post 12.13 EPS for the current fiscal year.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.
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