Jones Lang LaSalle (NYSE:JLL) Given New $385.00 Price Target at Keefe, Bruyette & Woods

Jones Lang LaSalle (NYSE:JLL) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $415.00 to $385.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 28.27% from the company’s previous close.

Several other brokerages have also recently weighed in on JLL. Weiss Ratings upgraded Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 18th. Raymond James Financial reissued a “strong-buy” rating and issued a $500.00 price objective on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Zacks Research cut Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market perform” rating on shares of Jones Lang LaSalle in a research report on Thursday, September 17th. Finally, Barclays raised their price target on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $427.60.

Jones Lang LaSalle Stock Down 1.0%

JLL traded down $2.98 during midday trading on Friday, hitting $300.16. The company had a trading volume of 131,899 shares, compared to its average volume of 435,067. Jones Lang LaSalle has a 52 week low of $259.83 and a 52 week high of $393.84. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of 14.38 and a beta of 1.30. The stock’s 50 day moving average price is $349.60 and its 200 day moving average price is $326.35. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. During the same quarter in the prior year, the company earned $3.30 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts anticipate that Jones Lang LaSalle will post 25.18 earnings per share for the current fiscal year.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the sale, the chief executive officer owned 138,418 shares in the company, valued at $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,000 shares of company stock worth $2,271,060. Insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JLL. BlackRock Inc. bought a new position in shares of Jones Lang LaSalle in the second quarter valued at approximately $1,446,414,000. Artemis Investment Management LLP increased its holdings in shares of Jones Lang LaSalle by 23.2% in the third quarter. Artemis Investment Management LLP now owns 460,389 shares of the financial services provider’s stock worth $140,658,000 after purchasing an additional 86,563 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 worth $130,683,000 after buying an additional 316,299 shares in the last quarter. Blair William & Co. IL increased its stake in Jones Lang LaSalle by 22.3% in the 4th quarter. Blair William & Co. IL now owns 346,764 shares of the financial services provider’s stock worth $116,676,000 after acquiring an additional 63,272 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Jones Lang LaSalle by 1.3% in the 1st quarter. Bank of America Corp DE now owns 303,446 shares of the financial services provider’s stock valued at $92,345,000 after acquiring an additional 3,985 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a global commercial real estate services and investment management company headquartered in Chicago, Illinois. The company provides real estate expertise to corporate, institutional and private clients across office, industrial, retail, residential, hotel and other property sectors.

JLL’s services include leasing, property and facilities management, capital markets advisory, investment sales, valuation, development and project management, workplace consulting, and strategic real estate advice.