Jones Lang LaSalle Incorporated (NYSE:JLL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 355,592 shares of the financial services provider’s stock after selling 6,386 shares during the period. Bank of New York Mellon Corp’s holdings in Jones Lang LaSalle were worth $90,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its position in Jones Lang LaSalle by 15.0% in 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 in the last quarter. State Street Corp increased its holdings 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 valued at $384,164,000 after purchasing an additional 6,304 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Jones Lang LaSalle by 6.3% in the third 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 during the period. Geode Capital Management LLC grew its position in Jones Lang LaSalle by 0.3% during the third quarter. Geode Capital Management LLC now owns 893,627 shares of the financial services provider’s stock worth $241,165,000 after buying an additional 3,109 shares during the period. Finally, Artemis Investment Management LLP increased its holdings in Jones Lang LaSalle by 18.9% in the fourth quarter. Artemis Investment Management LLP now owns 394,214 shares of the financial services provider’s stock valued at $99,791,000 after buying an additional 62,700 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $292.00 to $325.00 in a report on Tuesday, December 10th. StockNews.com downgraded Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Raymond James increased their price objective on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, January 24th. Wolfe Research upgraded shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price for the company in a report on Monday, November 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Jones Lang LaSalle in a report on Friday, December 6th. They issued a “buy” rating and a $352.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Jones Lang LaSalle has an average rating of “Buy” and an average price target of $309.00.

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $271.40 on Monday. The stock has a market capitalization of $12.86 billion, a P/E ratio of 24.04 and a beta of 1.36. Jones Lang LaSalle Incorporated has a 12-month low of $171.45 and a 12-month high of $288.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 2.29. The firm’s 50-day moving average is $265.94 and its two-hundred day moving average is $264.31.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $6.15 EPS for the quarter, topping the consensus estimate of $5.76 by $0.39. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the previous year, the company earned $4.23 EPS. Jones Lang LaSalle’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Jones Lang LaSalle Company 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.