American International Group Inc. Reduces Stock Holdings in Jones Lang LaSalle Incorporated (NYSE:JLL)

American International Group Inc. cut its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,259 shares of the financial services provider’s stock after selling 2,918 shares during the quarter. American International Group Inc. owned about 0.14% of Jones Lang LaSalle worth $12,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new stake in Jones Lang LaSalle in the fourth quarter worth about $47,000. GAMMA Investing LLC purchased a new position in shares of Jones Lang LaSalle in the 4th quarter valued at approximately $71,000. Savant Capital LLC bought a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at approximately $203,000. Sequoia Financial Advisors LLC bought a new position in Jones Lang LaSalle in the fourth quarter worth $215,000. Finally, Schechter Investment Advisors LLC purchased a new position in Jones Lang LaSalle during the fourth quarter valued at $224,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $204.72 on Monday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $191.96 and a 200-day moving average price of $185.00. Jones Lang LaSalle Incorporated has a 52 week low of $119.46 and a 52 week high of $209.79. The firm has a market capitalization of $9.74 billion, a PE ratio of 32.91 and a beta of 1.40.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Monday, May 6th. The financial services provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.93. Jones Lang LaSalle had a net margin of 1.42% and a return on equity of 6.55%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Jones Lang LaSalle Incorporated will post 12.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Jones Lang LaSalle from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. StockNews.com cut Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. Wolfe Research reaffirmed a “peer perform” rating on shares of Jones Lang LaSalle in a research report on Tuesday, April 9th. Raymond James raised Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $218.00 to $246.00 in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group began coverage on Jones Lang LaSalle in a research report on Wednesday, April 10th. They issued a “buy” rating and a $246.00 price target for the company. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Jones Lang LaSalle has an average rating of “Moderate Buy” and a consensus target price of $214.00.

Jones Lang LaSalle Profile

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.