3,600 Jones Lang LaSalle Incorporated $JLL Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 112,600 shares of the financial services provider’s stock after selling 3,600 shares during the quarter. Jones Lang LaSalle makes up approximately 1.3% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 17th largest holding. Hennessy Advisors Inc.’s holdings in Jones Lang LaSalle were worth $34,402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC increased its position in Jones Lang LaSalle by 2.0% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,758 shares of the financial services provider’s stock worth $537,000 after buying an additional 34 shares during the period. Versant Capital Management Inc lifted its holdings in Jones Lang LaSalle by 8.1% during the 3rd quarter. Versant Capital Management Inc now owns 469 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 35 shares during the last quarter. Orange Investment Advisors Inc. boosted its holdings in shares of Jones Lang LaSalle by 0.3% in the 3rd quarter. Orange Investment Advisors Inc. now owns 13,273 shares of the financial services provider’s stock worth $4,055,000 after acquiring an additional 36 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in Jones Lang LaSalle by 1.6% in the third quarter. Diversify Advisory Services LLC now owns 2,288 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 37 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Jones Lang LaSalle by 4.7% in the third quarter. Farther Finance Advisors LLC now owns 1,002 shares of the financial services provider’s stock valued at $306,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods reduced their target price on shares of Jones Lang LaSalle from $415.00 to $385.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Citigroup restated a “market perform” rating on shares of Jones Lang LaSalle in a research report on Thursday, September 17th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, Zacks Research lowered Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.60.

Jones Lang LaSalle Stock Down 0.1%

Shares of NYSE:JLL opened at $359.53 on Monday. The company has a 50 day moving average price of $331.39 and a two-hundred day moving average price of $324.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.43 and a current ratio of 2.43. The company has a market capitalization of $16.42 billion, a PE ratio of 15.56 and a beta of 1.29. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $393.84.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.61. The firm had revenue of $7.28 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Jones Lang LaSalle had a return on equity of 15.05% and a net margin of 3.89%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.50 earnings per share. Analysts forecast that Jones Lang LaSalle Incorporated will post 25.16 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christian Ulbrich sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the transaction, the chief executive officer owned 138,418 shares in the company, valued at $53,364,291.54. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,000 shares of company stock worth $2,271,060 in the last ninety days. Corporate insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated, doing business as JLL, is a global commercial real estate services and investment management company. It serves property owners, occupiers, investors and developers across a broad range of real estate sectors, including office, industrial, retail, residential, hospitality and specialized properties.

JLL’s services include leasing, capital markets and investment sales, property and facilities management, project and development management, valuation and advisory services, workplace strategy, sustainability consulting and real estate technology solutions.