Franklin Resources Inc. Has $30.85 Million Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Franklin Resources Inc. lessened its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,502 shares of the financial services provider’s stock after selling 20,662 shares during the period. Franklin Resources Inc.’s holdings in Jones Lang LaSalle were worth $30,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its stake in Jones Lang LaSalle by 31.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,265 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 538 shares during the period. Blue Trust Inc. grew its position in shares of Jones Lang LaSalle by 129.8% in the 2nd quarter. Blue Trust Inc. now owns 439 shares of the financial services provider’s stock valued at $86,000 after buying an additional 248 shares during the last quarter. Raymond James & Associates lifted its holdings in Jones Lang LaSalle by 13.0% in the second quarter. Raymond James & Associates now owns 92,798 shares of the financial services provider’s stock valued at $19,050,000 after buying an additional 10,704 shares during the period. Nisa Investment Advisors LLC grew its stake in Jones Lang LaSalle by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 21,529 shares of the financial services provider’s stock worth $4,419,000 after purchasing an additional 84 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Jones Lang LaSalle by 409.4% in the second quarter. Fifth Third Bancorp now owns 1,676 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 1,347 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $255.38 on Thursday. The firm’s fifty day moving average is $269.46 and its 200 day moving average is $247.35. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Jones Lang LaSalle Incorporated has a 52-week low of $167.11 and a 52-week high of $288.50. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 25.82 and a beta of 1.34.

Jones Lang LaSalle (NYSE:JLL) last announced 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. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.62 billion. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. Jones Lang LaSalle’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 EPS. Sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 13.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $292.00 to $325.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group assumed coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They set a “buy” rating and a $352.00 target price on the stock. StockNews.com raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Finally, Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target on the stock in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $301.57.

About Jones Lang LaSalle

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.