Royal Bank of Canada Sells 21,612 Shares of Jones Lang LaSalle Incorporated $JLL

Royal Bank of Canada lessened its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 31.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 47,958 shares of the financial services provider’s stock after selling 21,612 shares during the quarter. Royal Bank of Canada’s holdings in Jones Lang LaSalle were worth $14,595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in JLL. Sunbelt Securities Inc. bought a new position in shares of Jones Lang LaSalle during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Jones Lang LaSalle in the fourth quarter valued at $29,000. Activest Wealth Management raised its stake in Jones Lang LaSalle by 1,720.0% during the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 86 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Jones Lang LaSalle during the fourth quarter valued at $35,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Jones Lang LaSalle in the 4th quarter valued at $55,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Stock Down 0.5%

Shares of NYSE:JLL opened at $361.86 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The firm has a market cap of $16.65 billion, a P/E ratio of 17.34 and a beta of 1.25. Jones Lang LaSalle Incorporated has a 12 month low of $259.83 and a 12 month high of $373.29. The company’s 50-day moving average price is $320.35 and its two-hundred day moving average price is $317.93.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.70. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. Jones Lang LaSalle’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.30 earnings per share. As a group, research analysts forecast that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Larry Quinlan sold 403 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the sale, the director owned 4,771 shares in the company, valued at $1,408,112.94. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JLL shares. 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. Barclays upped their price objective on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their target price on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. UBS Group boosted their target price on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings cut Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Jones Lang LaSalle has an average rating of “Moderate Buy” and an average price target of $417.83.

Jones Lang LaSalle 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.