6,846 Shares in Jones Lang LaSalle Incorporated $JLL Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP opened a position in Jones Lang LaSalle during the third quarter, buying 6,846 shares worth approximately $2.09 million.
• Institutional investors own 94.8% of JLL shares; several firms also increased or initiated holdings, including Artemis Investment Management and Principal Financial Group.
• JLL beat quarterly earnings expectations, reporting $6.76 per share versus estimates of $6.15, with revenue up 11.8% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $427.60.

CenterBook Partners LP purchased a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,846 shares of the financial services provider's stock, valued at approximately $2,092,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Jones Lang LaSalle in the second quarter worth approximately $1,446,414,000. Artemis Investment Management LLP raised its position in Jones Lang LaSalle by 23.2% in the third quarter. Artemis Investment Management LLP now owns 460,389 shares of the financial services provider's stock valued at $140,658,000 after purchasing an additional 86,563 shares during the period. Principal Financial Group Inc. raised its position in Jones Lang LaSalle by 279.6% in the first quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider's stock valued at $130,683,000 after purchasing an additional 316,299 shares during the period. Bank of America Corp DE lifted its stake in shares of Jones Lang LaSalle by 1.3% in the 1st quarter. Bank of America Corp DE now owns 303,446 shares of the financial services provider's stock valued at $92,345,000 after purchasing an additional 3,985 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at $87,669,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

JLL has been the subject of a number of research analyst reports. Barclays increased their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a report on Monday, August 17th. Raymond James Financial restated a "strong-buy" rating and issued a $500.00 price objective on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their target price on shares of Jones Lang LaSalle from $415.00 to $385.00 and set an "outperform" rating on the stock in a research report on Friday, October 9th. Citigroup reaffirmed a "market perform" rating on shares of Jones Lang LaSalle in a research note on Thursday, September 17th. Finally, Wall Street Zen upgraded shares of Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Jones Lang LaSalle has an average rating of "Moderate Buy" and an average price target of $427.60.

Insider Transactions at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the transaction, the chief executive officer directly owned 138,418 shares in the company, valued at $53,364,291.54. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,000 shares of company stock worth $2,271,060. 0.91% of the stock is currently owned by corporate insiders.

Jones Lang LaSalle Stock Up 0.0%

NYSE:JLL opened at $370.93 on Monday. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $395.79. The stock's fifty day moving average is $330.53 and its two-hundred day moving average is $325.26. The stock has a market capitalization of $16.94 billion, a price-to-earnings ratio of 16.05 and a beta of 1.29. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.13.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share for the quarter, beating analysts' consensus estimates of $6.15 by $0.61. The business had revenue of $7.28 billion during the quarter, compared to analysts' expectations of $7.24 billion. Jones Lang LaSalle had a return on equity of 15.05% and a net margin of 3.89%. The company's revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.50 earnings per share. Research analysts anticipate that Jones Lang LaSalle Incorporated will post 25.16 EPS for the current year.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated, commonly known as JLL, is a global commercial real estate services and investment management company. It advises businesses, property owners, investors and public-sector organizations on real estate decisions and operations.

Its services include leasing and sales, property and facilities management, project and development management, valuation, workplace consulting and capital markets advisory. Through LaSalle Investment Management, JLL also manages real estate investments for institutional and other clients.

The company traces its history to 1783 and took its current name following the 1999 merger of Jones Lang Wootton and LaSalle Partners.

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