Credit Suisse AG Lowers Position in Jones Lang LaSalle Inc (JLL)
Credit Suisse AG trimmed its holdings in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 15.6% in the third quarter, HoldingsChannel reports. The firm owned 88,370 shares of the financial services provider’s stock after selling 16,356 shares during the quarter. Credit Suisse AG’s holdings in Jones Lang LaSalle were worth $12,754,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Financial Partners Inc. bought a new stake in Jones Lang LaSalle during the 3rd quarter worth approximately $125,000. Cornerstone Wealth Management LLC bought a new stake in Jones Lang LaSalle during the 2nd quarter worth approximately $172,000. Itau Unibanco Holding S.A. bought a new stake in Jones Lang LaSalle during the 2nd quarter worth approximately $183,000. CHICAGO TRUST Co NA bought a new stake in Jones Lang LaSalle during the 3rd quarter worth approximately $202,000. Finally, Eqis Capital Management Inc. bought a new stake in Jones Lang LaSalle during the 2nd quarter worth approximately $207,000. 94.15% of the stock is owned by institutional investors and hedge funds.
JLL has been the subject of a number of research reports. Zacks Investment Research raised Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. ValuEngine cut Jones Lang LaSalle from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Finally, Barclays increased their target price on Jones Lang LaSalle from $165.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, November 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Jones Lang LaSalle currently has an average rating of “Buy” and an average target price of $172.00.
Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.71. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Jones Lang LaSalle had a net margin of 2.59% and a return on equity of 14.87%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. As a group, sell-side analysts expect that Jones Lang LaSalle Inc will post 10.81 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a dividend yield of 0.56%. Jones Lang LaSalle’s dividend payout ratio is currently 8.95%.
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About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, project and development management/construction, capital markets, property management, corporate finance, real estate investment banking/merchant banking, energy and sustainability, research, facility management outsourcing, strategic consulting, technology solutions, advisory, investment management, tenant representation, lease administration, transaction management, logistics and supply-chain management, valuations, and mortgage origination and servicing.
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