Massachusetts Financial Services Co. MA Trims Stock Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 771,952 shares of the financial services provider's stock after selling 19,263 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.63% of Jones Lang LaSalle worth $195,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Jones Lang LaSalle in the fourth quarter worth approximately $149,468,000. SG Americas Securities LLC raised its stake in Jones Lang LaSalle by 7,967.8% in the fourth quarter. SG Americas Securities LLC now owns 279,065 shares of the financial services provider's stock worth $70,643,000 after buying an additional 275,606 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Jones Lang LaSalle in the fourth quarter worth about $29,271,000. Allspring Global Investments Holdings LLC boosted its position in shares of Jones Lang LaSalle by 688.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,752 shares of the financial services provider's stock valued at $32,603,000 after purchasing an additional 114,168 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Jones Lang LaSalle during the 4th quarter valued at $26,487,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Stock Up 7.9 %

Shares of JLL stock traded up $16.38 on Wednesday, hitting $224.47. The stock had a trading volume of 968,033 shares, compared to its average volume of 311,324. The business has a 50 day moving average price of $256.98 and a 200 day moving average price of $262.49. Jones Lang LaSalle Incorporated has a one year low of $171.45 and a one year high of $288.50. The company has a market cap of $10.64 billion, a PE ratio of 19.88 and a beta of 1.22. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12.

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Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.76 by $0.39. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same period in the prior year, the business posted $4.23 EPS. The firm's quarterly revenue was up 15.8% on a year-over-year basis. Research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on JLL shares. Keefe, Bruyette & Woods upgraded Jones Lang LaSalle from a "market perform" rating to an "outperform" rating and increased their target price for the company from $292.00 to $325.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their target price on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. StockNews.com upgraded Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 22nd. Finally, Raymond James increased their price objective on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a "strong-buy" rating in a research report on Friday, January 24th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Jones Lang LaSalle has a consensus rating of "Buy" and a consensus target price of $309.00.

About Jones Lang LaSalle

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.