The Manufacturers Life Insurance Company Cuts Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

The Manufacturers Life Insurance Company trimmed its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,486 shares of the financial services provider's stock after selling 2,022 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Jones Lang LaSalle worth $11,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. raised its stake in Jones Lang LaSalle by 433.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,546 shares of the financial services provider's stock valued at $2,370,000 after acquiring an additional 9,381 shares during the last quarter. BDF Gestion acquired a new stake in shares of Jones Lang LaSalle during the second quarter worth $3,550,000. Wealth Enhancement Advisory Services LLC grew its position in Jones Lang LaSalle by 782.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,113 shares of the financial services provider's stock valued at $1,871,000 after buying an additional 8,080 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Jones Lang LaSalle by 29.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,635 shares of the financial services provider's stock worth $2,869,000 after buying an additional 2,430 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Jones Lang LaSalle in the 3rd quarter worth $1,689,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on JLL shares. Wolfe Research raised shares of Jones Lang LaSalle from a "peer perform" rating to an "outperform" rating and set a $353.00 price target for the company in a report on Monday, November 25th. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $280.00 to $292.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 13th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Jones Lang LaSalle presently has an average rating of "Buy" and an average price target of $271.50.

Jones Lang LaSalle Price Performance

Shares of JLL traded down $1.48 on Tuesday, reaching $276.67. The stock had a trading volume of 57,274 shares, compared to its average volume of 285,948. The firm has a 50-day moving average of $267.94 and a 200 day moving average of $241.56. The firm has a market capitalization of $13.13 billion, a PE ratio of 27.97 and a beta of 1.34. Jones Lang LaSalle Incorporated has a twelve month low of $159.52 and a twelve month 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.67 by $0.83. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.62 billion. During the same quarter last year, the business posted $2.01 earnings per share. The business's revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts expect that Jones Lang LaSalle Incorporated will post 13.17 EPS for the current year.

Jones Lang LaSalle 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.