Southpoint Capital Advisors LP Sells 350,000 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Southpoint Capital Advisors LP reduced its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 70.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 150,000 shares of the financial services provider’s stock after selling 350,000 shares during the period. Southpoint Capital Advisors LP owned about 0.32% of Jones Lang LaSalle worth $40,472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Jones Lang LaSalle during the second quarter worth $34,000. Brooklyn Investment Group bought a new stake in shares of Jones Lang LaSalle in the 3rd quarter worth $34,000. UMB Bank n.a. raised its holdings in shares of Jones Lang LaSalle by 350.0% in the third quarter. UMB Bank n.a. now owns 135 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 105 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Jones Lang LaSalle during the third quarter valued at about $37,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Jones Lang LaSalle by 37.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JLL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Jones Lang LaSalle from $280.00 to $292.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. StockNews.com raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Finally, Wolfe Research raised Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $271.50.

Jones Lang LaSalle Stock Performance

NYSE:JLL opened at $280.64 on Friday. The company has a market capitalization of $13.31 billion, a P/E ratio of 28.38 and a beta of 1.37. The business has a fifty day simple moving average of $267.33 and a two-hundred day simple moving average of $239.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.29. Jones Lang LaSalle Incorporated has a 1 year low of $154.43 and a 1 year high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.83. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.62 billion. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. On average, analysts expect that Jones Lang LaSalle Incorporated will post 13.17 earnings per share for the current 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.