Jones Lang LaSalle Incorporated $JLL Holdings Lessened by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. cut its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,905,011 shares of the financial services provider’s stock after selling 204,549 shares during the quarter. Jones Lang LaSalle accounts for 4.6% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 10th largest position. EdgePoint Investment Group Inc. owned 4.11% of Jones Lang LaSalle worth $579,733,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on JLL. Zacks Research lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. UBS Group boosted their target price on shares of 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 upped their target price on shares of 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 downgraded 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

Jones Lang LaSalle Stock Up 2.4%

JLL stock opened at $333.42 on Tuesday. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 17.93 and a beta of 1.27. Jones Lang LaSalle Incorporated has a 1-year low of $259.83 and a 1-year high of $363.06. The firm has a fifty day moving average price of $307.76 and a two-hundred day moving average price of $317.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35.

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

Insider Buying and Selling at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 402 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the sale, the director owned 4,369 shares of the company’s stock, valued at approximately $1,318,258.37. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company’s stock.

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.