Jones Lang LaSalle Incorporated (NYSE:JLL) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 9.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,388 shares of the financial services provider’s stock after selling 641 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Jones Lang LaSalle were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Jones Lang LaSalle during the 2nd quarter worth about $34,000. Brooklyn Investment Group acquired a new stake in Jones Lang LaSalle during the third quarter worth about $34,000. UMB Bank n.a. raised its position in Jones Lang LaSalle by 350.0% during the third quarter. UMB Bank n.a. now owns 135 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 105 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Jones Lang LaSalle in the 3rd quarter worth approximately $37,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Jones Lang LaSalle by 37.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 39 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Jones Lang LaSalle in a research note on Friday, December 6th. They issued a “buy” rating and a $352.00 target price for the company. Keefe, Bruyette & Woods raised shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $292.00 to $325.00 in a research note on Tuesday, December 10th. StockNews.com upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Finally, Wolfe Research raised Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price objective on the stock in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $287.71.

Jones Lang LaSalle Price Performance

Shares of Jones Lang LaSalle stock opened at $269.58 on Monday. The stock has a market capitalization of $12.79 billion, a P/E ratio of 27.26 and a beta of 1.34. The business has a 50 day simple moving average of $269.20 and a two-hundred day simple moving average of $246.31. Jones Lang LaSalle Incorporated has a 12 month low of $167.11 and a 12 month high of $288.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.29.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the prior year, the company earned $2.01 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Jones Lang LaSalle Incorporated will post 13.37 EPS for the current fiscal 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.