Allianz Asset Management GmbH Acquires 260,847 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Allianz Asset Management GmbH lifted its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 194.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 395,337 shares of the financial services provider's stock after buying an additional 260,847 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.83% of Jones Lang LaSalle worth $98,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Jones Lang LaSalle in the first quarter worth $33,000. Western Pacific Wealth Management LP purchased a new position in Jones Lang LaSalle during the first quarter valued at $41,000. CIBC Private Wealth Group LLC lifted its position in Jones Lang LaSalle by 25.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock valued at $62,000 after buying an additional 50 shares during the period. Versant Capital Management Inc lifted its position 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 valued at $80,000 after buying an additional 253 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Jones Lang LaSalle by 39.9% during the first quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock valued at $91,000 after buying an additional 105 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JLL has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday. Citigroup lowered their price target on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday. UBS Group lifted their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, JMP Securities began coverage on Jones Lang LaSalle in a research report on Monday. They issued a "market perform" rating for the company. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $312.43.

Jones Lang LaSalle Stock Performance

Shares of Jones Lang LaSalle stock traded up $1.07 during trading hours on Thursday, reaching $261.87. 144,505 shares of the stock traded hands, compared to its average volume of 394,433. The company has a 50 day moving average price of $240.68 and a 200 day moving average price of $246.42. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 23.64 and a beta of 1.34. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $288.50. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.17.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.29. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.65 billion. Jones Lang LaSalle had a return on equity of 10.37% and a net margin of 2.23%. The business's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. On average, equities research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the completion of the transaction, the chief executive officer directly owned 10,297 shares in the company, valued at approximately $2,450,377.09. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Profile

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.