Bank of New York Mellon Corp cut its position in Jones Lang LaSalle Inc (NYSE:JLL) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554,579 shares of the financial services provider’s stock after selling 36,129 shares during the period. Bank of New York Mellon Corp’s holdings in Jones Lang LaSalle were worth $92,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. IFM Investors Pty Ltd acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at approximately $206,000. State of Alaska Department of Revenue grew its holdings in shares of Jones Lang LaSalle by 39.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,960 shares of the financial services provider’s stock valued at $823,000 after purchasing an additional 1,410 shares during the last quarter. Manning & Napier Group LLC bought a new stake in shares of Jones Lang LaSalle during the 2nd quarter valued at approximately $215,000. Louisiana State Employees Retirement System grew its holdings in shares of Jones Lang LaSalle by 3.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the financial services provider’s stock valued at $2,042,000 after purchasing an additional 400 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Jones Lang LaSalle during the 2nd quarter valued at approximately $172,000. 94.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine lowered shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Jones Lang LaSalle has a consensus rating of “Hold” and an average price target of $179.17.
JLL opened at $140.02 on Friday. Jones Lang LaSalle Inc has a fifty-two week low of $127.02 and a fifty-two week high of $178.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.92 and a current ratio of 1.89. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.26 and a beta of 1.56.
Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Tuesday, November 6th. The financial services provider reported $3.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.71. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.12 billion. Jones Lang LaSalle had a net margin of 2.59% and a return on equity of 14.87%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 EPS. Equities research analysts forecast that Jones Lang LaSalle Inc will post 10.25 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a dividend yield of 0.56%. Jones Lang LaSalle’s dividend payout ratio (DPR) is currently 8.95%.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, project and development management/construction, capital markets, property management, corporate finance, real estate investment banking/merchant banking, energy and sustainability, research, facility management outsourcing, strategic consulting, technology solutions, advisory, investment management, tenant representation, lease administration, transaction management, logistics and supply-chain management, valuations, and mortgage origination and servicing.
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