Lazard Asset Management LLC Has $311,000 Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

Posted by Defense World Staff on Mar 4th, 2023

Lazard Asset Management LLC trimmed its position in Jones Lang LaSalle Incorporated (NYSE:JLL – Get Rating) by 86.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,065 shares of the financial services provider’s stock after selling 13,427 shares during the quarter. Lazard Asset Management LLC’s holdings in Jones Lang LaSalle were worth $311,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of JLL. Covestor Ltd raised its stake in 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 acquiring an additional 57 shares in the last quarter. Ellevest Inc. boosted its position in Jones Lang LaSalle by 28.9% in the third quarter. Ellevest Inc. now owns 370 shares of the financial services provider’s stock valued at $56,000 after buying an additional 83 shares in the last quarter. HighTower Advisors LLC boosted its position in 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 valued at $818,000 after buying an additional 84 shares in the last quarter. Ronald Blue Trust Inc. boosted its position in 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 valued at $45,000 after buying an additional 89 shares in the last quarter. Finally, First National Bank of Omaha boosted its position in 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 valued at $6,327,000 after buying an additional 110 shares in the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Trading Up 1.2 %

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

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

Analysts Set New Price Targets

JLL has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Jones Lang LaSalle in a research report on Friday, January 27th. They issued a “neutral” rating and a $200.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Jones Lang LaSalle from $214.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday. Wolfe Research lowered shares of Jones Lang LaSalle from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 31st. Finally, Raymond James reduced their target price on shares of Jones Lang LaSalle from $243.00 to $239.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $234.50.

Jones Lang LaSalle Company Profile

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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.