Prana Capital Management LP Sells 94,304 Shares of Jones Lang LaSalle Incorporated $JLL

Prana Capital Management LP trimmed its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 65.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,449 shares of the financial services provider’s stock after selling 94,304 shares during the period. Prana Capital Management LP owned about 0.11% of Jones Lang LaSalle worth $15,048,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in JLL. Norges Bank acquired a new stake in Jones Lang LaSalle during the second quarter worth about $160,187,000. EdgePoint Investment Group Inc. lifted its position in shares of Jones Lang LaSalle by 21.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock worth $568,222,000 after acquiring an additional 386,184 shares during the period. Millennium Management LLC grew its holdings in shares of Jones Lang LaSalle by 4,285.3% during the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock worth $104,643,000 after purchasing an additional 342,821 shares in the last quarter. Equity Investment Corp bought a new stake in shares of Jones Lang LaSalle during the third quarter valued at approximately $72,132,000. Finally, Wellington Management Group LLP raised its stake in shares of Jones Lang LaSalle by 310.0% in the third quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider’s stock valued at $86,545,000 after purchasing an additional 219,373 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Insiders Place Their Bets

In other news, Director Deborah H. Mcaneny sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the sale, the director owned 14,985 shares of the company’s stock, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock opened at $302.96 on Wednesday. The firm has a market capitalization of $14.19 billion, a P/E ratio of 18.46 and a beta of 1.42. The stock has a fifty day moving average price of $326.24 and a two-hundred day moving average price of $318.32. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $363.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share for the quarter, topping the consensus estimate of $7.25 by $1.46. The business had revenue of $7.61 billion for the quarter, compared to analyst estimates of $7.45 billion. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.15 EPS. As a group, analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Barclays dropped their price objective on shares of Jones Lang LaSalle from $360.00 to $355.00 and set an “equal weight” rating for the company in a research note on Friday, March 13th. Weiss Ratings upgraded shares of Jones Lang LaSalle from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. UBS Group upped their target price on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Finally, Zacks Research upgraded shares of Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $363.17.

Jones Lang LaSalle Profile

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.