Jones Lang LaSalle Incorporated (NYSE:JLL) Position Cut by Paralel Advisors LLC

Paralel Advisors LLC cut its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,701 shares of the financial services provider’s stock after selling 1,457 shares during the quarter. Paralel Advisors LLC’s holdings in Jones Lang LaSalle were worth $2,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in shares of Jones Lang LaSalle by 1.6% during the second quarter. Arizona State Retirement System now owns 13,282 shares of the financial services provider’s stock worth $2,727,000 after buying an additional 208 shares during the period. Victory Capital Management Inc. grew its stake in shares of Jones Lang LaSalle by 36.5% in the second quarter. Victory Capital Management Inc. now owns 13,722 shares of the financial services provider’s stock worth $2,817,000 after purchasing an additional 3,666 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new stake in shares of Jones Lang LaSalle during the second quarter valued at about $498,000. CIBC Asset Management Inc lifted its holdings in Jones Lang LaSalle by 4.5% in the second quarter. CIBC Asset Management Inc now owns 1,328 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 57 shares during the period. Finally, Natixis Advisors LLC grew its position in Jones Lang LaSalle by 14.7% in the 2nd quarter. Natixis Advisors LLC now owns 13,856 shares of the financial services provider’s stock valued at $2,844,000 after buying an additional 1,779 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Jones Lang LaSalle from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Keefe, Bruyette & Woods boosted their price target on shares of Jones Lang LaSalle from $240.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. UBS Group raised their price objective on shares of Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Raymond James increased their target price on shares of Jones Lang LaSalle from $246.00 to $268.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.33.

Jones Lang LaSalle Trading Down 1.8 %

Shares of JLL stock traded down $4.45 during trading hours on Friday, reaching $245.00. 195,924 shares of the stock traded hands, compared to its average volume of 281,938. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.65 billion, a PE ratio of 39.39 and a beta of 1.37. Jones Lang LaSalle Incorporated has a 1-year low of $119.46 and a 1-year high of $261.83. The business has a fifty day moving average price of $236.31 and a 200 day moving average price of $207.81.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.25. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.48 billion. Jones Lang LaSalle had a net margin of 1.76% and a return on equity of 8.03%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. On average, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 12.54 EPS for the current year.

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.