Allspring Global Investments Holdings LLC Buys 16,890 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Allspring Global Investments increased its stake in Jones Lang LaSalle by 13.1% in the first quarter, buying 16,890 additional shares and bringing its total holding to 146,012 shares worth about $44.6 million.
• Wall Street sentiment on JLL remains generally positive: analysts now have an average “Moderate Buy” rating with a $394 average price target, while UBS recently lifted its target to $445 and Zacks upgraded the stock to strong-buy.
• JLL reported strong quarterly results, with earnings per share of $3.43 topping estimates and revenue of $6.39 billion beating forecasts; however, the stock was down 1.5% in Friday trading at $330.90.

Allspring Global Investments Holdings LLC grew its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,012 shares of the financial services provider's stock after buying an additional 16,890 shares during the period. Allspring Global Investments Holdings LLC owned 0.31% of Jones Lang LaSalle worth $44,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in Jones Lang LaSalle in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Jones Lang LaSalle during the 4th quarter valued at about $29,000. Activest Wealth Management lifted its holdings in shares of Jones Lang LaSalle by 1,720.0% in the 4th quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 86 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Jones Lang LaSalle in the fourth quarter worth about $35,000. Finally, True Wealth Design LLC grew its position in Jones Lang LaSalle by 13,200.0% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the financial services provider's stock worth $45,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 94.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on JLL. Zacks Research raised Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 24th. Barclays increased their price target on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a report on Wednesday, May 13th. Weiss Ratings downgraded Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Finally, UBS Group boosted their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $394.00.

Insider Activity at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the sale, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. This represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Down 1.5%

Shares of NYSE JLL opened at $330.90 on Friday. The stock has a 50 day moving average price of $305.05 and a 200 day moving average price of $317.90. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 17.79 and a beta of 1.27. Jones Lang LaSalle Incorporated has a 52-week low of $251.54 and a 52-week high of $363.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. Sell-side analysts expect that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current year.

About Jones Lang LaSalle

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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