33,745 Shares in Jones Lang LaSalle Incorporated $JLL Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc. initiated a new position in Jones Lang LaSalle in Q4, buying 33,745 shares worth about $11.35 million. The stake represented roughly 0.07% of the company.
• Jones Lang LaSalle reported better-than-expected earnings for the quarter, with EPS of $3.43 versus estimates of $3.01 and revenue of $6.39 billion versus expectations of $6 billion. Revenue rose 11.1% year over year.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $394. Meanwhile, insider selling has continued, including recent sales by the CEO and a director.

TD Asset Management Inc bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 33,745 shares of the financial services provider's stock, valued at approximately $11,354,000. TD Asset Management Inc owned about 0.07% of Jones Lang LaSalle at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of JLL. Integrated Wealth Concepts LLC purchased a new stake in Jones Lang LaSalle in the first quarter worth $546,000. Empowered Funds LLC increased its position in Jones Lang LaSalle by 203.1% in the first quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock worth $1,003,000 after buying an additional 2,711 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Jones Lang LaSalle by 33.8% in the second quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider's stock worth $128,000 after buying an additional 126 shares during the last quarter. Cresset Asset Management LLC increased its position in Jones Lang LaSalle by 28.4% in the second quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider's stock worth $428,000 after buying an additional 370 shares during the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new stake in Jones Lang LaSalle in the second quarter worth $211,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Price Performance

Shares of NYSE JLL opened at $294.94 on Tuesday. The stock has a market cap of $13.68 billion, a PE ratio of 15.86 and a beta of 1.29. Jones Lang LaSalle Incorporated has a fifty-two week low of $230.24 and a fifty-two week high of $363.06. The stock has a fifty day moving average of $311.95 and a 200-day moving average of $321.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $2.31 earnings per share. Equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current year.

Insider Buying and Selling at Jones Lang LaSalle

In related news, CEO Richard Bloxam sold 5,440 shares of Jones Lang LaSalle stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total value of $118,941.42. Following the sale, the director directly owned 4,771 shares of the company's stock, valued at $1,408,112.94. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JLL. Weiss Ratings downgraded Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Barclays raised their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 13th. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods reduced their price target on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. Finally, UBS Group lifted their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $394.00.

Jones Lang LaSalle Profile

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.

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