Citigroup Inc. Cuts Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

Citigroup Inc. reduced its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 23.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 41,915 shares of the financial services provider’s stock after selling 13,065 shares during the period. Citigroup Inc.’s holdings in Jones Lang LaSalle were worth $8,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC grew its holdings in Jones Lang LaSalle by 51.7% in the second quarter. Rafferty Asset Management LLC now owns 4,090 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 1,394 shares during the last quarter. WINTON GROUP Ltd grew its holdings in Jones Lang LaSalle by 1.1% in the second quarter. WINTON GROUP Ltd now owns 6,939 shares of the financial services provider’s stock worth $1,356,000 after purchasing an additional 77 shares during the last quarter. FFT Wealth Management LLC purchased a new position in Jones Lang LaSalle in the second quarter worth $38,000. Quest Capital Management Inc. ADV purchased a new position in Jones Lang LaSalle in the second quarter worth $207,000. Finally, Regal Investment Advisors LLC purchased a new position in Jones Lang LaSalle in the second quarter worth $1,012,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

JLL has been the subject of several research reports. Wolfe Research initiated coverage on shares of Jones Lang LaSalle in a research note on Monday, June 14th. They set an “outperform” rating for the company. Zacks Investment Research downgraded shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating and set a $204.00 price objective for the company. in a research note on Monday, July 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $186.60.

NYSE JLL opened at $241.43 on Thursday. The company has a market capitalization of $12.24 billion, a PE ratio of 18.42, a P/E/G ratio of 1.70 and a beta of 1.39. The company has a fifty day moving average of $232.50 and a 200 day moving average of $205.76. Jones Lang LaSalle Incorporated has a 1 year low of $90.86 and a 1 year high of $253.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.13 and a quick ratio of 2.13.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, August 4th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $2.47. Jones Lang LaSalle had a net margin of 3.95% and a return on equity of 13.54%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. Research analysts expect that Jones Lang LaSalle Incorporated will post 15.37 earnings per share for the current year.

About Jones Lang LaSalle

Jones Lang LaSalle, Inc engages in the provision of professional services which specializes in real estate and investment management. It operates through the following geographic segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; and LaSalle Investment Management (LaSalle). The Americas, EMEA, and Asia Pacific segments provides leasing, capital markets, integrated property and facility management, project management, advisory, and transaction services.

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Institutional Ownership by Quarter for Jones Lang LaSalle (NYSE:JLL)

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