Hsbc Holdings PLC Sells 12,068 Shares of Jones Lang LaSalle Incorporated $JLL

Hsbc Holdings PLC cut its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 72.9% in the first quarter, Holdings Channel.com reports. The firm owned 4,489 shares of the financial services provider’s stock after selling 12,068 shares during the quarter. Hsbc Holdings PLC’s holdings in Jones Lang LaSalle were worth $1,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in Jones Lang LaSalle in the third quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Jones Lang LaSalle during the fourth quarter valued at approximately $29,000. Activest Wealth Management raised its holdings in shares of Jones Lang LaSalle by 1,720.0% in the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock worth $31,000 after buying an additional 86 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Jones Lang LaSalle during the 4th quarter worth approximately $35,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Jones Lang LaSalle during the 4th quarter worth approximately $55,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Price Performance

Shares of JLL stock opened at $333.42 on Tuesday. The stock’s 50-day moving average is $307.76 and its 200 day moving average is $317.07. Jones Lang LaSalle Incorporated has a 1-year low of $259.83 and a 1-year high of $363.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market cap of $15.47 billion, a P/E ratio of 17.93 and a beta of 1.27.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Research analysts predict that Jones Lang LaSalle Incorporated will post 22.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Zacks Research lowered Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. UBS Group increased their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Barclays raised their price target on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $394.00.

Insider Activity at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the sale, the director owned 4,771 shares of the company’s stock, valued at $1,408,112.94. This represents a 7.79% 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. 0.91% of the stock is currently owned by company insiders.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.