TCW Group Inc. decreased its stake in Jones Lang LaSalle Inc (NYSE:JLL) by 19.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 688,770 shares of the financial services provider’s stock after selling 170,755 shares during the period. TCW Group Inc. owned 1.51% of Jones Lang LaSalle worth $99,403,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of JLL. Gulf International Bank UK Ltd increased its stake in shares of Jones Lang LaSalle by 7.0% in the second quarter. Gulf International Bank UK Ltd now owns 15,216 shares of the financial services provider’s stock valued at $2,525,000 after buying an additional 1,000 shares during the period. Clinton Group Inc. acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $1,070,000. IFM Investors Pty Ltd acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $206,000. State of Alaska Department of Revenue increased its stake in shares of Jones Lang LaSalle by 39.7% in the second quarter. State of Alaska Department of Revenue now owns 4,960 shares of the financial services provider’s stock valued at $823,000 after buying an additional 1,410 shares during the period. Finally, Manning & Napier Group LLC acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $215,000. 93.96% of the stock is owned by institutional investors.
NYSE JLL traded up $1.80 during trading hours on Tuesday, hitting $132.24. 6,441 shares of the company’s stock were exchanged, compared to its average volume of 298,904. Jones Lang LaSalle Inc has a 1-year low of $125.80 and a 1-year high of $178.75. The stock has a market capitalization of $5.91 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.15 and a beta of 1.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.92 and a quick ratio of 1.92.
In related news, CEO Guy Grainger sold 200 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $154.94, for a total transaction of $30,988.00. Following the completion of the sale, the chief executive officer now owns 1,341 shares of the company’s stock, valued at $207,774.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.
JLL has been the subject of several recent research reports. Zacks Investment Research raised Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine cut Jones Lang LaSalle from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $179.17.
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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