Balyasny Asset Management L.P. Acquires 46,851 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Balyasny Asset Management L.P. raised its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 46.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,493 shares of the financial services provider's stock after buying an additional 46,851 shares during the period. Balyasny Asset Management L.P. owned about 0.31% of Jones Lang LaSalle worth $37,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in JLL. Norges Bank bought a new stake in Jones Lang LaSalle during the fourth quarter worth $149,468,000. SG Americas Securities LLC increased its position in shares of Jones Lang LaSalle by 7,967.8% in the fourth quarter. SG Americas Securities LLC now owns 279,065 shares of the financial services provider's stock valued at $70,643,000 after acquiring an additional 275,606 shares during the period. Marshall Wace LLP raised its stake in shares of Jones Lang LaSalle by 134.5% during the fourth quarter. Marshall Wace LLP now owns 373,207 shares of the financial services provider's stock valued at $94,474,000 after acquiring an additional 214,087 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Jones Lang LaSalle during the fourth quarter worth about $29,271,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Jones Lang LaSalle by 688.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 130,752 shares of the financial services provider's stock valued at $32,603,000 after purchasing an additional 114,168 shares during the period. 94.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price objective on Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. UBS Group dropped their price objective on shares of Jones Lang LaSalle from $340.00 to $305.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. StockNews.com upgraded shares of Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Raymond James lifted their target price on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a "strong-buy" rating in a report on Friday, January 24th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $315.83.

Jones Lang LaSalle Stock Up 0.8 %

Shares of JLL traded up $1.87 during mid-day trading on Friday, reaching $229.64. The company's stock had a trading volume of 311,287 shares, compared to its average volume of 322,001. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 2.29. Jones Lang LaSalle Incorporated has a 12-month low of $192.94 and a 12-month high of $288.50. The stock has a market cap of $10.90 billion, a PE ratio of 20.34 and a beta of 1.33. The company's 50 day moving average is $233.57 and its 200 day moving average is $255.78.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.29. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. The business had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.65 billion. During the same period last year, the company posted $1.78 EPS. The company's revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Jones Lang LaSalle 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.