Nicholas Hoffman & Company LLC. Reduces Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

Nicholas Hoffman & Company LLC. decreased its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 24.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,071 shares of the financial services provider’s stock after selling 971 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Jones Lang LaSalle were worth $829,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. EdgePoint Investment Group Inc. grew its holdings in Jones Lang LaSalle by 27.3% during the 1st 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 boosted 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 acquiring an additional 26,814 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Jones Lang LaSalle by 20.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,049,392 shares of the financial services provider’s stock worth $215,419,000 after purchasing an additional 181,246 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Jones Lang LaSalle by 1.2% in the 2nd 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 purchased a new stake in shares of Jones Lang LaSalle during the first quarter worth about $97,018,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JLL has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of Jones Lang LaSalle from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Raymond James raised their target price 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. Keefe, Bruyette & Woods upped their price target on shares of Jones Lang LaSalle from $240.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $246.80.

Jones Lang LaSalle Stock Down 0.4 %

Shares of Jones Lang LaSalle stock opened at $271.92 on Wednesday. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 43.72 and a beta of 1.37. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.31. Jones Lang LaSalle Incorporated has a twelve month low of $123.17 and a twelve month high of $279.65. The company has a fifty day moving average price of $260.28 and a 200 day moving average price of $227.39.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.48 billion. Jones Lang LaSalle had a net margin of 1.76% and a return on equity of 8.03%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS. Equities research analysts forecast that Jones Lang LaSalle Incorporated will post 12.55 earnings per share for the current fiscal year.

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.