Advisors Capital Management LLC Grows Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Advisors Capital Management LLC increased its stake in Jones Lang LaSalle Incorporated by 16.3%, acquiring an additional 3,548 shares during the first quarter, bringing its total ownership to 25,357 shares valued at approximately $6.29 million.
• Analysts have mixed signals on the stock, with JPMorgan Chase raising its price target from $285 to $372 and Citigroup lowering it from $275 to $240, leading to a consensus rating of "Moderate Buy" with an average target price of $328.57.
• Jones Lang LaSalle reported a quarterly net revenue of $6.25 billion and earnings per share of $3.30, surpassing analysts' expectations and reflecting an 11.0% year-over-year revenue growth.

Advisors Capital Management LLC increased its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 16.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,357 shares of the financial services provider's stock after buying an additional 3,548 shares during the quarter. Advisors Capital Management LLC owned about 0.05% of Jones Lang LaSalle worth $6,286,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Jones Lang LaSalle during the 1st quarter worth approximately $33,000. SVB Wealth LLC acquired a new position in Jones Lang LaSalle during the first quarter worth $38,000. Western Pacific Wealth Management LP acquired a new position in Jones Lang LaSalle during the first quarter worth $41,000. Versant Capital Management Inc raised its holdings in Jones Lang LaSalle by 356.3% during the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after buying an additional 253 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock worth $80,000 after purchasing an additional 189 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on JLL. JPMorgan Chase & Co. increased their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Keefe, Bruyette & Woods increased their target price on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group increased their target price on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a report on Sunday, August 31st. Finally, UBS Group increased their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of "Moderate Buy" and a consensus price target of $328.57.

Jones Lang LaSalle Trading Up 1.5%

NYSE JLL traded up $4.81 on Wednesday, hitting $316.65. The company's stock had a trading volume of 101,517 shares, compared to its average volume of 405,861. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $319.95. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company's 50-day simple moving average is $284.31 and its 200 day simple moving average is $252.70. The firm has a market cap of $15.00 billion, a P/E ratio of 27.32 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter last year, the business posted $2.55 EPS. The business's revenue was up 11.0% on a year-over-year basis. Research analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the completion of the sale, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.91% of the company's stock.

About Jones Lang LaSalle

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.