Nuveen Asset Management LLC Lowers Stock Holdings in Jones Lang LaSalle Incorporated (NYSE:JLL)

Posted by on Mar 4th, 2023

Nuveen Asset Management LLC lowered its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL – Get Rating) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,581 shares of the financial services provider’s stock after selling 10,166 shares during the period. Nuveen Asset Management LLC owned 0.28% of Jones Lang LaSalle worth $19,727,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in JLL. Covestor Ltd lifted its stake in shares of Jones Lang LaSalle by 61.3% during the first quarter. Covestor Ltd now owns 150 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 57 shares in the last quarter. Ellevest Inc. lifted its stake in shares of Jones Lang LaSalle by 28.9% in the third quarter. Ellevest Inc. now owns 370 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 83 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Jones Lang LaSalle by 2.5% in the first quarter. HighTower Advisors LLC now owns 3,413 shares of the financial services provider’s stock worth $818,000 after acquiring an additional 84 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in shares of Jones Lang LaSalle by 52.4% in the third quarter. Ronald Blue Trust Inc. now owns 259 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 89 shares in the last quarter. Finally, First National Bank of Omaha lifted its stake in shares of Jones Lang LaSalle by 0.3% in the second quarter. First National Bank of Omaha now owns 36,184 shares of the financial services provider’s stock worth $6,327,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James lowered their price objective on Jones Lang LaSalle from $243.00 to $239.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Wolfe Research lowered Jones Lang LaSalle from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 31st. Citigroup started coverage on Jones Lang LaSalle in a report on Friday, January 27th. They set a “neutral” rating and a $200.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Jones Lang LaSalle from $214.00 to $215.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $234.50.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $173.85 on Friday. Jones Lang LaSalle Incorporated has a 12-month low of $135.35 and a 12-month high of $249.40. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 13.11 and a beta of 1.29. The business has a 50 day simple moving average of $173.16 and a 200 day simple moving average of $166.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.88 and a quick ratio of 2.14.

Jones Lang LaSalle (NYSE:JLL – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The financial services provider reported $4.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.47 by ($0.11). Jones Lang LaSalle had a return on equity of 12.55% and a net margin of 3.14%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company earned $8.66 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 14.32 EPS for the current year.

About Jones Lang LaSalle

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Jones Lang LaSalle, Inc engages in the provision of professional services which specialize in real estate and investment management. It operates through the following geographic segments: Americas, Europe, Middle East and Africa (EMEA, Asia Pacific, and LaSalle Investment Management (LaSalle). The Americas, EMEA, and Asia Pacific segments provide leasing, capital markets, integrated property and facility management, project management, advisory, and transaction services.

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Institutional Ownership by Quarter for Jones Lang LaSalle (NYSE:JLL)

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