Vanguard Group Inc. Increases Stake in Jones Lang LaSalle Incorporated (JLL)
Vanguard Group Inc. increased its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,800,003 shares of the financial services provider’s stock after purchasing an additional 89,697 shares during the period. Vanguard Group Inc. owned approximately 8.38% of Jones Lang LaSalle worth $475,000,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. grew its holdings in shares of Jones Lang LaSalle by 54.9% during the 2nd quarter. Prudential Financial Inc. now owns 227,579 shares of the financial services provider’s stock valued at $28,448,000 after purchasing an additional 80,617 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Jones Lang LaSalle by 60.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,600 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 600 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Jones Lang LaSalle in the second quarter worth $2,325,000. Pegasus Partners Ltd. bought a new stake in Jones Lang LaSalle in the second quarter worth $4,369,000. Finally, St. James Investment Company LLC lifted its stake in Jones Lang LaSalle by 1,037.4% in the second quarter. St. James Investment Company LLC now owns 129,555 shares of the financial services provider’s stock worth $16,194,000 after purchasing an additional 118,165 shares during the last quarter. 90.31% of the stock is owned by institutional investors.
Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) opened at 127.25 on Wednesday. The firm’s 50-day moving average is $121.54 and its 200 day moving average is $118.56. Jones Lang LaSalle Incorporated has a 12 month low of $86.62 and a 12 month high of $134.76. The stock has a market cap of $5.77 billion, a PE ratio of 19.21 and a beta of 1.80.
Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.37. Jones Lang LaSalle had a return on equity of 12.04% and a net margin of 4.14%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts predict that Jones Lang LaSalle Incorporated will post $8.22 EPS for the current year.
Several research firms have issued reports on JLL. Barclays PLC upped their price target on shares of Jones Lang LaSalle from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, June 9th. Zacks Investment Research upgraded Jones Lang LaSalle from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $120.00 price objective on shares of Jones Lang LaSalle in a report on Friday, June 9th. ValuEngine raised Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, TheStreet raised Jones Lang LaSalle from a “c+” rating to a “b-” rating in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Jones Lang LaSalle has a consensus rating of “Buy” and an average target price of $133.57.
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In other news, Director Sheila A. Penrose sold 1,000 shares of Jones Lang LaSalle stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $123.07, for a total value of $123,070.00. Following the completion of the transaction, the director now owns 46,417 shares in the company, valued at approximately $5,712,540.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is owned by company insiders.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services company specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. It offers integrated services on a local, regional and global basis to owner, occupier, investor and developer clients.
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