Jones Lang LaSalle (NYSE:JLL) Price Target Raised to $405.00

Jones Lang LaSalle (NYSE:JLL) had its price objective boosted by Keefe, Bruyette & Woods from $390.00 to $405.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently commented on JLL. UBS Group lifted their target price on shares of Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Barclays initiated coverage on shares of Jones Lang LaSalle in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 price target on the stock. Wall Street Zen lowered Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. The Goldman Sachs Group raised their target price on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.71.

Jones Lang LaSalle Stock Performance

Shares of Jones Lang LaSalle stock opened at $349.87 on Thursday. The business’s 50 day moving average price is $324.92 and its 200 day moving average price is $300.80. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 26.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.31 and a current ratio of 2.31. Jones Lang LaSalle has a one year low of $194.36 and a one year high of $356.57.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.49 billion. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the company earned $3.50 EPS. On average, research analysts predict that Jones Lang LaSalle will post 16.45 EPS for the current year.

Insider Activity

In related news, CEO Christian Ulbrich sold 96 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $332.18, for a total transaction of $31,889.28. Following the transaction, the chief executive officer owned 114,685 shares of the company’s stock, valued at approximately $38,096,063.30. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 20,000 shares of company stock valued at $6,609,091. 0.91% of the stock is currently owned by insiders.

Institutional Trading of Jones Lang LaSalle

Several hedge funds have recently made changes to their positions in JLL. Norges Bank purchased a new position in Jones Lang LaSalle in the second quarter valued at $160,187,000. Swedbank AB increased its holdings in Jones Lang LaSalle by 115.0% during the 2nd quarter. Swedbank AB now owns 938,149 shares of the financial services provider’s stock worth $239,960,000 after purchasing an additional 501,716 shares during the period. EdgePoint Investment Group Inc. raised its position in Jones Lang LaSalle by 21.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock valued at $568,222,000 after purchasing an additional 386,184 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Jones Lang LaSalle by 4,285.3% in the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock valued at $104,643,000 after buying an additional 342,821 shares during the period. Finally, Equity Investment Corp acquired a new position in shares of Jones Lang LaSalle during the third quarter worth about $72,132,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

About Jones Lang LaSalle

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.