Northwestern Mutual Wealth Management Co. Sells 1,498 Shares of Jones Lang LaSalle Incorporated $JLL

Northwestern Mutual Wealth Management Co. reduced its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 37.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,485 shares of the financial services provider’s stock after selling 1,498 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Jones Lang LaSalle were worth $770,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Hsbc Holdings PLC lifted its holdings in Jones Lang LaSalle by 14.5% in the 2nd quarter. Hsbc Holdings PLC now owns 5,138 shares of the financial services provider’s stock worth $1,592,000 after buying an additional 649 shares during the period. Beacon Pointe Advisors LLC purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $991,000. Empowered Funds LLC bought a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $5,583,000. United Capital Financial Advisors LLC purchased a new stake in Jones Lang LaSalle in the second quarter worth $528,000. Finally, Caitlin John LLC bought a new stake in Jones Lang LaSalle in the second quarter valued at $366,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Insiders Place Their Bets

In related news, Director Larry Quinlan sold 402 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $301.73, for a total transaction of $121,295.46. Following the sale, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,318,258.37. This represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christian Ulbrich sold 2,000 shares of Jones Lang LaSalle stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the transaction, the chief executive officer directly owned 138,418 shares of the company’s stock, valued at $53,364,291.54. This trade represents a 1.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,402 shares of company stock worth $2,392,355. Insiders own 0.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on JLL shares. Zacks Research lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 18th. Raymond James Financial restated a “strong-buy” rating and issued a $500.00 price objective on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, Barclays lifted their price objective on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an “equal weight” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $433.60.

Jones Lang LaSalle Price Performance

Shares of JLL opened at $362.33 on Friday. Jones Lang LaSalle Incorporated has a fifty-two week low of $259.83 and a fifty-two week high of $393.84. The firm’s 50-day simple moving average is $349.95 and its two-hundred day simple moving average is $322.40. The stock has a market cap of $16.67 billion, a PE ratio of 17.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, topping analysts’ consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same period in the previous year, the firm posted $3.30 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts anticipate that Jones Lang LaSalle Incorporated will post 25.05 earnings per share for the current fiscal year.

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.