Retirement Systems of Alabama lifted its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,399 shares of the financial services provider’s stock after buying an additional 4,871 shares during the quarter. Retirement Systems of Alabama owned about 0.21% of Jones Lang LaSalle worth $29,757,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Jones Lang LaSalle in the second quarter valued at approximately $26,000. Johnson Financial Group Inc. acquired a new stake in Jones Lang LaSalle during the 2nd quarter worth $34,000. Reyes Financial Architecture Inc. bought a new stake in shares of Jones Lang LaSalle during the 3rd quarter valued at $35,000. Pension & Wealth Management Advisors Inc. bought a new stake in Jones Lang LaSalle in the third quarter valued at about $38,000. Finally, Rakuten Securities Inc. acquired a new stake in Jones Lang LaSalle in the second quarter worth $63,000. 94.80% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on JLL shares. Weiss Ratings raised shares of Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 18th. Zacks Research cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Barclays boosted their price objective on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $500.00 target price on shares of Jones Lang LaSalle in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.60.
Read Our Latest Stock Analysis on JLL
Insider Transactions at Jones Lang LaSalle
In other news, CEO Christian Ulbrich sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the sale, the chief executive officer owned 138,418 shares in the company, valued at $53,364,291.54. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,000 shares of company stock worth $2,271,060 in the last three months. Company insiders own 0.91% of the company’s stock.
Jones Lang LaSalle Stock Performance
NYSE JLL opened at $374.80 on Wednesday. The firm has a 50-day moving average of $330.71 and a 200-day moving average of $325.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.43 and a current ratio of 2.43. The stock has a market cap of $17.12 billion, a PE ratio of 16.22 and a beta of 1.29. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $395.79.
Jones Lang LaSalle (NYSE:JLL – Get Free Report) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $6.76 EPS for the quarter, topping the consensus estimate of $6.15 by $0.61. The business had revenue of $7.28 billion during the quarter, compared to the consensus estimate of $7.24 billion. Jones Lang LaSalle had a net margin of 3.89% and a return on equity of 15.05%. Jones Lang LaSalle’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.50 EPS. On average, sell-side analysts anticipate that Jones Lang LaSalle Incorporated will post 25.16 EPS for the current year.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, commonly known as JLL, is a global commercial real estate services and investment management company. It advises businesses, property owners, investors and public-sector organizations on real estate decisions and operations. Its services include leasing and sales, property and facilities management, project and development management, valuation, workplace consulting and capital markets advisory. Through LaSalle Investment Management, JLL also manages real estate investments for institutional and other clients.
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