Equity Investment Corp Reduces Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Equity Investment Corp trimmed its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,001 shares of the financial services provider’s stock after selling 6,862 shares during the quarter. Jones Lang LaSalle accounts for approximately 1.9% of Equity Investment Corp’s holdings, making the stock its 27th biggest holding. Equity Investment Corp’s holdings in Jones Lang LaSalle were worth $81,511,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JLL. Brooklyn Investment Group purchased a new position in shares of Jones Lang LaSalle during the third quarter valued at approximately $34,000. R Squared Ltd purchased a new position in shares of Jones Lang LaSalle during the fourth quarter valued at about $35,000. Principal Securities Inc. raised its stake in Jones Lang LaSalle by 166.7% in the fourth quarter. Principal Securities Inc. now owns 176 shares of the financial services provider’s stock worth $45,000 after buying an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Jones Lang LaSalle by 35.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 194 shares of the financial services provider’s stock worth $49,000 after buying an additional 51 shares during the period. Finally, Huntington National Bank boosted its position in Jones Lang LaSalle by 22.9% during the 3rd quarter. Huntington National Bank now owns 204 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Performance

Shares of Jones Lang LaSalle stock opened at $270.89 on Thursday. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 23.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 2.29. Jones Lang LaSalle Incorporated has a 1 year low of $171.45 and a 1 year high of $288.50. The firm’s 50-day moving average is $265.16 and its 200 day moving average is $263.74.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, beating 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm earned $4.23 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price 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. Raymond James raised their price objective on Jones Lang LaSalle from $317.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised shares of 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 report on Tuesday, December 10th. StockNews.com cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Wolfe Research upgraded shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price objective on the stock in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $309.00.

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.