Northwestern Mutual Wealth Management Co. bought a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) in the second quarter, Holdings Channel reports. The fund bought 2,485 shares of the financial services provider’s stock, valued at approximately $770,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Deutsche Bank AG bought a new stake in Jones Lang LaSalle during the 2nd quarter valued at about $6,504,000. Moran Wealth Management LLC bought a new position in shares of Jones Lang LaSalle in the first quarter worth approximately $4,405,000. Geode Capital Management LLC grew its holdings in shares of Jones Lang LaSalle by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock valued at $333,451,000 after buying an additional 15,995 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Jones Lang LaSalle by 78.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider’s stock valued at $9,723,000 after acquiring an additional 12,699 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at approximately $1,507,000. 94.80% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
JLL has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $500.00 price target on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Barclays upped their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. Weiss Ratings raised Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research lowered Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Jones Lang LaSalle presently has an average rating of “Moderate Buy” and a consensus target price of $433.60.
Jones Lang LaSalle Trading Down 1.8%
Jones Lang LaSalle stock opened at $385.60 on Thursday. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $393.84. The company has a market cap of $17.74 billion, a P/E ratio of 18.48 and a beta of 1.25. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $341.03 and a two-hundred day simple moving average of $320.12.
Jones Lang LaSalle (NYSE:JLL – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.70. The firm had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.30 EPS. Analysts predict that Jones Lang LaSalle Incorporated will post 24.59 EPS for the current year.
Insider Activity at Jones Lang LaSalle
In related news, CEO Christian Ulbrich sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the transaction, the chief executive officer directly owned 138,418 shares of the company’s stock, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $295.14, for a total value of $118,941.42. Following the sale, the director directly owned 4,771 shares of the company’s stock, valued at $1,408,112.94. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,805 shares of company stock worth $2,511,297 over the last quarter. Insiders own 0.91% of the company’s stock.
Jones Lang LaSalle Profile
Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.
Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.
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