Retirement Systems of Alabama Lowers Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Retirement Systems of Alabama reduced its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,202 shares of the financial services provider’s stock after selling 1,044 shares during the period. Retirement Systems of Alabama owned approximately 0.18% of Jones Lang LaSalle worth $23,528,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth approximately $34,000. Brooklyn Investment Group purchased a new position in Jones Lang LaSalle in the third quarter worth $34,000. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 105 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Jones Lang LaSalle during the 3rd quarter worth $37,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Jones Lang LaSalle by 37.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Down 1.8 %

Shares of NYSE:JLL opened at $269.58 on Friday. The company has a market capitalization of $12.79 billion, a P/E ratio of 27.26 and a beta of 1.34. The stock’s fifty day simple moving average is $269.20 and its 200-day simple moving average is $245.96. Jones Lang LaSalle Incorporated has a 52-week low of $167.11 and a 52-week high of $288.50. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.83. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Jones Lang LaSalle had a net margin of 2.12% and a return on equity of 8.95%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $2.01 EPS. As a group, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 13.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JLL has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Jones Lang LaSalle in a research report on Friday, December 6th. They set a “buy” rating and a $352.00 target price on the stock. StockNews.com raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Keefe, Bruyette & Woods raised Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $292.00 to $325.00 in a report on Tuesday, December 10th. Finally, Wolfe Research upgraded Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target for the company in a research report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $287.71.

Jones Lang LaSalle Company 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.