Clearbridge Investments LLC increased its stake in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 850,524 shares of the financial services provider’s stock after acquiring an additional 4,515 shares during the quarter. Clearbridge Investments LLC’s holdings in Jones Lang LaSalle were worth $126,669,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC boosted its stake in Jones Lang LaSalle by 814.6% during the fourth quarter. Advisory Services Network LLC now owns 814 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 725 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in Jones Lang LaSalle during the fourth quarter worth $223,000. Magnetar Financial LLC bought a new position in Jones Lang LaSalle during the third quarter worth $233,000. Toronto Dominion Bank lifted its stake in shares of Jones Lang LaSalle by 244.1% in the third quarter. Toronto Dominion Bank now owns 1,913 shares of the financial services provider’s stock valued at $236,000 after buying an additional 1,357 shares in the last quarter. Finally, Timber Hill LLC bought a new position in shares of Jones Lang LaSalle in the third quarter valued at $237,000. 91.75% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on JLL. Wedbush set a $158.00 price objective on shares of Jones Lang LaSalle and gave the company a “hold” rating in a research note on Monday, February 12th. Barclays raised their price objective on shares of Jones Lang LaSalle from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, March 6th. ValuEngine raised shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Raymond James Financial began coverage on shares of Jones Lang LaSalle in a research note on Tuesday, February 6th. They issued an “outperform” rating and a $175.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $152.00.
Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $4.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.22 by $0.70. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.29 billion. Jones Lang LaSalle had a net margin of 3.20% and a return on equity of 13.55%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.95 earnings per share. sell-side analysts expect that Jones Lang LaSalle Inc will post 9.85 EPS for the current year.
In other news, Director Martin H. Nesbitt sold 6,701 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $149.32, for a total value of $1,000,593.32. Following the completion of the sale, the director now owns 35 shares in the company, valued at $5,226.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Ohringer sold 5,000 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $160.13, for a total transaction of $800,650.00. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
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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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