Equity Investment Corp Sells 6,862 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Equity Investment Corp trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,001 shares of the financial services provider’s stock after selling 6,862 shares during the period. Jones Lang LaSalle makes up 1.9% of Equity Investment Corp’s investment portfolio, making the stock its 27th biggest holding. Equity Investment Corp owned approximately 0.68% of Jones Lang LaSalle worth $81,511,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Jones Lang LaSalle by 7.2% during the 3rd quarter. Creative Planning now owns 4,964 shares of the financial services provider’s stock valued at $1,339,000 after purchasing an additional 333 shares during the period. PFG Investments LLC bought a new stake in shares of Jones Lang LaSalle during the third quarter valued at about $304,000. State of Alaska Department of Revenue boosted its position in shares of Jones Lang LaSalle by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 5,531 shares of the financial services provider’s stock valued at $1,492,000 after acquiring an additional 370 shares during the period. Integrated Advisors Network LLC purchased a new position in Jones Lang LaSalle during the third quarter valued at approximately $586,000. Finally, First Trust Direct Indexing L.P. bought a new stake in Jones Lang LaSalle during the 3rd quarter worth approximately $457,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on JLL. StockNews.com downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods upgraded Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $292.00 to $325.00 in a research note on Tuesday, December 10th. Wolfe Research upgraded Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target for the company in a research report on Monday, November 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $309.00.

Jones Lang LaSalle Price Performance

Shares of Jones Lang LaSalle stock opened at $270.89 on Thursday. The business’s 50-day moving average price is $265.16 and its 200-day moving average price is $263.74. The firm has a market capitalization of $12.84 billion, a PE ratio of 23.99 and a beta of 1.36. Jones Lang LaSalle Incorporated has a 12 month low of $171.45 and a 12 month high of $288.50. The company has a current ratio of 2.00, a quick ratio of 2.29 and a debt-to-equity ratio of 0.12.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 EPS for the quarter, topping the consensus estimate of $5.76 by $0.39. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the firm posted $4.23 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal 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.