Bamco Inc. NY Increases Stock Holdings in Jones Lang LaSalle Incorporated $JLL

Bamco Inc. NY raised its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 9.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 518,364 shares of the financial services provider’s stock after buying an additional 46,523 shares during the quarter. Bamco Inc. NY owned about 1.09% of Jones Lang LaSalle worth $132,587,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Jones Lang LaSalle during the second quarter worth about $160,187,000. Swedbank AB increased its position in Jones Lang LaSalle by 115.0% during the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider’s stock worth $239,960,000 after buying an additional 501,716 shares in the last quarter. Select Equity Group L.P. lifted its holdings in Jones Lang LaSalle by 50.7% in the 1st quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider’s stock valued at $263,298,000 after purchasing an additional 357,469 shares in the last quarter. Nuveen LLC acquired a new stake in Jones Lang LaSalle during the first quarter worth approximately $53,533,000. Finally, Long Pond Capital LP purchased a new stake in shares of Jones Lang LaSalle in the second quarter valued at $51,370,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Christian Ulbrich sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $330.33, for a total value of $1,651,650.00. Following the sale, the chief executive officer directly owned 134,685 shares in the company, valued at $44,490,496.05. The trade was a 3.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $6,609,091. Insiders own 0.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JLL shares. Barclays initiated coverage on shares of Jones Lang LaSalle in a report on Tuesday, December 2nd. They issued an “equal weight” rating and a $351.00 target price for the company. UBS Group boosted their price target on Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Keefe, Bruyette & Woods raised their price target on shares of Jones Lang LaSalle from $317.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $342.14.

Jones Lang LaSalle Stock Performance

JLL stock opened at $334.55 on Friday. The company has a 50-day simple moving average of $308.77 and a 200 day simple moving average of $285.28. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $15.79 billion, a P/E ratio of 25.66 and a beta of 1.44. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $340.14.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 EPS for the quarter, topping the consensus estimate of $4.24 by $0.26. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Jones Lang LaSalle Company Profile

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.