Jones Lang LaSalle (NYSE:JLL) Price Target Cut to $380.00 by Analysts at Keefe, Bruyette & Woods

Jones Lang LaSalle (NYSE:JLL) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $405.00 to $380.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 23.56% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Barclays initiated coverage on Jones Lang LaSalle in a report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 price target for the company. Weiss Ratings raised Jones Lang LaSalle from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Zacks Research raised Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, The Goldman Sachs Group increased their target price on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

Jones Lang LaSalle Stock Up 1.0%

JLL traded up $3.18 during trading hours on Tuesday, hitting $307.54. 81,830 shares of the company’s stock were exchanged, compared to its average volume of 579,139. The firm has a market cap of $14.41 billion, a P/E ratio of 18.74 and a beta of 1.42. Jones Lang LaSalle has a 12-month low of $194.36 and a 12-month high of $363.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $337.47 and a 200 day moving average of $317.24.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share for the quarter, topping analysts’ consensus estimates of $7.25 by $1.46. The business had revenue of $7.61 billion for the quarter, compared to analyst estimates of $7.45 billion. Jones Lang LaSalle had a return on equity of 12.50% and a net margin of 3.03%.The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.15 earnings per share. Analysts predict that Jones Lang LaSalle will post 16.45 EPS for the current fiscal year.

Insider Activity

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $330.24, for a total transaction of $1,651,200.00. Following the completion of the sale, the chief executive officer directly owned 129,445 shares of the company’s stock, valued at $42,747,916.80. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 15,000 shares of company stock worth $4,957,441 over the last 90 days. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Jones Lang LaSalle

Several institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp increased its position in shares of Jones Lang LaSalle by 184,969.0% during the fourth quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock worth $1,300,201,000 after acquiring an additional 3,862,153 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Jones Lang LaSalle by 426.7% in the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after purchasing an additional 728,824 shares during the period. Norges Bank acquired a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $160,187,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Jones Lang LaSalle in the fourth quarter valued at $132,263,000. Finally, EdgePoint Investment Group Inc. boosted its position in shares of Jones Lang LaSalle by 21.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock valued at $568,222,000 after purchasing an additional 386,184 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.