Principal Financial Group Inc. Sells 38,189 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Principal Financial Group Inc. lowered its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 14.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 232,826 shares of the financial services provider’s stock after selling 38,189 shares during the period. Principal Financial Group Inc. owned about 0.49% of Jones Lang LaSalle worth $62,819,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JLL. FMR LLC raised its position in shares of Jones Lang LaSalle by 15.0% during the third quarter. FMR LLC now owns 3,530,720 shares of the financial services provider’s stock worth $952,624,000 after acquiring an additional 459,466 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Jones Lang LaSalle by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,472,703 shares of the financial services provider’s stock worth $302,318,000 after purchasing an additional 26,814 shares during the last quarter. State Street Corp lifted its position in shares of Jones Lang LaSalle by 0.4% in the 3rd quarter. State Street Corp now owns 1,423,831 shares of the financial services provider’s stock worth $384,164,000 after purchasing an additional 6,304 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Jones Lang LaSalle by 20.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,049,392 shares of the financial services provider’s stock valued at $215,419,000 after acquiring an additional 181,246 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Jones Lang LaSalle by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 899,305 shares of the financial services provider’s stock valued at $242,641,000 after purchasing an additional 53,066 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JLL. StockNews.com raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upped their target price on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Keefe, Bruyette & Woods raised Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $292.00 to $325.00 in a report on Tuesday, December 10th. Wolfe Research upgraded Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price on the stock in a report on Monday, November 25th. Finally, The Goldman Sachs Group initiated coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 price target for the company. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $301.57.

Jones Lang LaSalle Price Performance

Shares of NYSE:JLL opened at $252.74 on Friday. The company has a market capitalization of $11.99 billion, a P/E ratio of 25.56 and a beta of 1.34. The company’s 50-day moving average is $269.03 and its 200 day moving average is $247.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.29 and a current ratio of 2.29. Jones Lang LaSalle Incorporated has a fifty-two week low of $167.11 and a fifty-two week high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.83. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Jones Lang LaSalle had a net margin of 2.12% and a return on equity of 8.95%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 earnings per share. On average, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 13.37 earnings per share for the current year.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.