Nordea Investment Management AB Cuts Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Nordea Investment Management AB reduced its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 6.9% in the fourth quarter, Holdings Channel reports. The fund owned 182,745 shares of the financial services provider’s stock after selling 13,626 shares during the quarter. Nordea Investment Management AB’s holdings in Jones Lang LaSalle were worth $46,576,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Jones Lang LaSalle in the 3rd quarter valued at about $34,000. UMB Bank n.a. boosted its holdings in shares of Jones Lang LaSalle by 350.0% in the 3rd quarter. UMB Bank n.a. now owns 135 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 105 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Jones Lang LaSalle during the 3rd quarter valued at approximately $37,000. Massmutual Trust Co. FSB ADV lifted its position in Jones Lang LaSalle by 37.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock worth $39,000 after buying an additional 39 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Jones Lang LaSalle by 22.9% during the third quarter. Huntington National Bank now owns 204 shares of the financial services provider’s stock worth $55,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Down 2.7 %

Shares of NYSE JLL opened at $249.42 on Wednesday. Jones Lang LaSalle Incorporated has a 12-month low of $167.11 and a 12-month high of $288.50. The stock’s fifty day simple moving average is $265.55 and its two-hundred day simple moving average is $252.52. The stock has a market capitalization of $11.83 billion, a PE ratio of 25.22 and a beta of 1.36. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $2.67 by $0.83. Jones Lang LaSalle had a net margin of 2.12% and a return on equity of 8.95%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.62 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts expect that Jones Lang LaSalle Incorporated will post 13.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on JLL. JPMorgan Chase & Co. upped their price target on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, December 16th. StockNews.com raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Keefe, Bruyette & Woods upgraded Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $292.00 to $325.00 in a research report on Tuesday, December 10th. Wolfe Research upgraded shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target on the stock in a report on Monday, November 25th. Finally, The Goldman Sachs Group began 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 for the company. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Jones Lang LaSalle currently has a consensus rating of “Buy” and an average price target of $301.57.

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.