86,563 Jones Lang LaSalle Incorporated $JLL Shares Acquired by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its JLL stake by 23.2% in the third quarter, acquiring 86,563 shares and bringing its holdings to 460,389 shares valued at approximately $140.7 million.
• JLL reported quarterly EPS of $5.26, exceeding estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. The stock recently traded at $298.50, below its 50-day and 200-day moving averages.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $433.60, although some firms have issued hold or market-perform ratings. Institutional investors own 94.8% of JLL, while insiders own 0.91% and have recently sold shares.

Artemis Investment Management LLP lifted its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 23.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 460,389 shares of the financial services provider's stock after purchasing an additional 86,563 shares during the period. Jones Lang LaSalle comprises approximately 1.1% of Artemis Investment Management LLP's holdings, making the stock its 25th biggest position. Artemis Investment Management LLP owned approximately 1.00% of Jones Lang LaSalle worth $140,658,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Jones Lang LaSalle in the second quarter worth about $26,000. Hilton Head Capital Partners LLC bought a new stake in Jones Lang LaSalle during the 4th quarter worth approximately $35,000. Johnson Financial Group Inc. purchased a new position in Jones Lang LaSalle during the second quarter valued at approximately $34,000. Manchester Capital Management LLC boosted its position in shares of Jones Lang LaSalle by 3,320.0% in the fourth quarter. Manchester Capital Management LLC now owns 171 shares of the financial services provider's stock worth $58,000 after purchasing an additional 166 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in shares of Jones Lang LaSalle in the second quarter worth $63,000. 94.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the sale, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,000 shares of company stock valued at $2,271,060 in the last quarter. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle Price Performance

Shares of JLL stock traded up $1.84 during trading hours on Thursday, hitting $298.50. The stock had a trading volume of 157,506 shares, compared to its average volume of 435,083. Jones Lang LaSalle Incorporated has a one year low of $259.83 and a one year high of $393.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.40 and a quick ratio of 2.40. The stock's 50-day moving average price is $350.80 and its two-hundred day moving average price is $326.28. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 14.30 and a beta of 1.30.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The company had revenue of $6.93 billion during the quarter, compared to analyst estimates of $6.88 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that Jones Lang LaSalle Incorporated will post 25.18 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JLL shares. Zacks Research lowered Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Citigroup reiterated a "market perform" rating on shares of Jones Lang LaSalle in a research report on Thursday, September 17th. Raymond James Financial reissued a "strong-buy" rating and set a $500.00 target price on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Barclays upped their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $433.60.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a global commercial real estate services and investment management company headquartered in Chicago, Illinois. The company provides real estate expertise to corporate, institutional and private clients across office, industrial, retail, residential, hotel and other property sectors.

JLL's services include leasing, property and facilities management, capital markets advisory, investment sales, valuation, development and project management, workplace consulting, and strategic real estate advice.

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