87,514 Shares in Jones Lang LaSalle Incorporated $JLL Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 87,514 shares of Jones Lang LaSalle valued at approximately $27.1 million, while institutional investors collectively own 94.8% of the company.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $433.60. Recent targets range from $401 to $500.
• JLL reported quarterly earnings of $5.26 per share, surpassing estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion. Shares opened at $378.94, near their 52-week high of $393.84.

Jupiter Topco LLC purchased a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 87,514 shares of the financial services provider's stock, valued at approximately $27,139,000. Jupiter Topco LLC owned about 0.19% of Jones Lang LaSalle as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Jones Lang LaSalle in the second quarter worth $1,446,414,000. AQR Capital Management LLC grew its stake in Jones Lang LaSalle by 426.7% in the 4th quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider's stock valued at $302,697,000 after buying an additional 728,824 shares during the last quarter. Norges Bank bought a new position in Jones Lang LaSalle in the 4th quarter worth $194,950,000. Eurizon Capital SGR S.p.A. acquired a new position in Jones Lang LaSalle during the 4th quarter worth $132,263,000. Finally, Millennium Management LLC boosted its holdings in Jones Lang LaSalle by 4,285.3% during the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock valued at $104,643,000 after acquiring an additional 342,821 shares during the period. Institutional investors own 94.80% of the company's stock.

Analyst Ratings Changes

JLL has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Barclays lifted their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research report on Monday, August 17th. Raymond James Financial reiterated a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $433.60.

Jones Lang LaSalle Price Performance

NYSE:JLL opened at $378.94 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. The company has a 50-day moving average of $344.31 and a 200-day moving average of $320.79. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $393.84. The company has a market capitalization of $17.44 billion, a price-to-earnings ratio of 18.16 and a beta of 1.25.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. The business had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 earnings per share. As a group, equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 24.59 earnings per share for the current fiscal year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the transaction, the chief executive officer directly owned 138,418 shares of the company's stock, valued at approximately $53,364,291.54. This represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 402 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the transaction, the director owned 4,369 shares of the company's stock, valued at $1,318,258.37. This trade represents a 8.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,805 shares of company stock worth $2,511,297. Corporate insiders own 0.91% of the company's stock.

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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