Jones Lang LaSalle Incorporated (NYSE:JLL) Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 14.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 232,826 shares of the financial services provider’s stock after selling 38,189 shares during the quarter. Principal Financial Group Inc.’s holdings in Jones Lang LaSalle were worth $62,819,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. lifted its stake in Jones Lang LaSalle by 27.3% in the first quarter. EdgePoint Investment Group Inc. now owns 2,072,046 shares of the financial services provider’s stock valued at $404,235,000 after buying an additional 443,992 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Jones Lang LaSalle by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,472,703 shares of the financial services provider’s stock valued at $302,318,000 after purchasing an additional 26,814 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Jones Lang LaSalle by 20.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,049,392 shares of the financial services provider’s stock valued at $215,419,000 after purchasing an additional 181,246 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Jones Lang LaSalle by 1.2% during the second quarter. Boston Trust Walden Corp now owns 672,994 shares of the financial services provider’s stock valued at $138,152,000 after purchasing an additional 7,698 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Jones Lang LaSalle during the first quarter valued at about $97,018,000. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JLL has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Jones Lang LaSalle from $240.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Finally, Raymond James boosted their price target on shares of Jones Lang LaSalle from $246.00 to $268.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Jones Lang LaSalle has an average rating of “Buy” and an average target price of $246.80.

Jones Lang LaSalle Price Performance

Shares of Jones Lang LaSalle stock opened at $269.06 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.58 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $262.99 and its two-hundred day moving average price is $232.24. Jones Lang LaSalle Incorporated has a 52 week low of $136.83 and a 52 week high of $288.50. The stock has a market cap of $12.77 billion, a PE ratio of 27.21 and a beta of 1.37.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.83. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. Jones Lang LaSalle’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS. As a group, sell-side analysts anticipate that Jones Lang LaSalle Incorporated will post 12.65 EPS for the current fiscal year.

Jones Lang LaSalle Company Profile

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.