Wellington Management Group LLP Lowers Position in Jones Lang LaSalle Incorporated $JLL

Wellington Management Group LLP lessened its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 85.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 37,866 shares of the financial services provider’s stock after selling 214,592 shares during the period. Wellington Management Group LLP’s holdings in Jones Lang LaSalle were worth $11,737,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in JLL. Sunbelt Securities Inc. purchased a new stake in Jones Lang LaSalle in the 3rd quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Jones Lang LaSalle during the second quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new position in shares of Jones Lang LaSalle in the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. bought a new position in shares of Jones Lang LaSalle in the second quarter worth approximately $34,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Jones Lang LaSalle in the fourth quarter worth $35,000. Institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Trading Down 0.0%

Shares of JLL stock opened at $362.33 on Tuesday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 17.36 and a beta of 1.24. Jones Lang LaSalle Incorporated has a 12-month low of $259.83 and a 12-month high of $393.84. The stock’s 50-day moving average price is $350.95 and its 200-day moving average price is $323.17.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, beating 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 company had revenue of $6.93 billion during the quarter, compared to analyst estimates of $6.88 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christian Ulbrich sold 2,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the sale, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. The trade was a 1.42% decrease in their ownership of the stock. 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. Also, Director Larry Quinlan sold 402 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $1,318,258.37. The trade was a 8.43% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $2,392,355. 0.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JLL has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 18th. Zacks Research cut Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Barclays boosted 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. Raymond James Financial reiterated a “strong-buy” rating and set a $500.00 target price on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus target price of $433.60.

Jones Lang LaSalle Company 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.