Insider Selling: Jones Lang LaSalle (NYSE:JLL) CEO Sells $1,651,650.00 in Stock

Jones Lang LaSalle Incorporated (NYSE:JLL) CEO Christian Ulbrich sold 5,000 shares of Jones Lang LaSalle stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $330.33, for a total value of $1,651,650.00. Following the completion of the sale, the chief executive officer directly owned 139,685 shares in the company, valued at approximately $46,142,146.05. This represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jones Lang LaSalle Stock Up 1.0%

NYSE:JLL traded up $3.38 during trading hours on Wednesday, reaching $334.10. 139,099 shares of the stock were exchanged, compared to its average volume of 390,209. The stock has a market cap of $15.77 billion, a PE ratio of 28.72 and a beta of 1.46. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $335.83. The firm has a 50 day moving average of $302.82 and a 200 day moving average of $276.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.49 billion. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 earnings per share. On average, equities analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norden Group LLC bought a new position in Jones Lang LaSalle during the 1st quarter worth $287,000. PNC Financial Services Group Inc. increased its position in shares of Jones Lang LaSalle by 11.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,605 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 262 shares during the period. Bank of Montreal Can raised its stake in Jones Lang LaSalle by 22.6% in the second quarter. Bank of Montreal Can now owns 9,547 shares of the financial services provider’s stock valued at $2,442,000 after purchasing an additional 1,761 shares in the last quarter. Acadian Asset Management LLC lifted its position in Jones Lang LaSalle by 270.3% during the first quarter. Acadian Asset Management LLC now owns 25,052 shares of the financial services provider’s stock worth $6,206,000 after purchasing an additional 18,287 shares during the period. Finally, Nordea Investment Management AB grew its stake in Jones Lang LaSalle by 5.7% during the second quarter. Nordea Investment Management AB now owns 193,901 shares of the financial services provider’s stock worth $49,389,000 after buying an additional 10,527 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JLL has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. raised their price target on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. The Goldman Sachs Group upped their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Jones Lang LaSalle from $317.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.67.

About Jones Lang LaSalle

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.