American Century Companies Inc. Purchases 57,969 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• American Century Companies Inc. increased its stake in Jones Lang LaSalle by 64.2% in Q3, buying 57,969 shares to own 148,238 shares (about 0.31% of the company) valued at roughly $44.2 million.
• JLL reported a quarterly beat with $8.71 EPS vs. $7.25 expected and revenue of $7.61 billion (up 11.7% YoY), and analysts give the stock a consensus rating of "Moderate Buy" with an average target of $362.50.
• Institutional investors hold 94.80% of JLL's stock while insiders own about 0.91%; CEO Christian Ulbrich recently sold 96 shares, slightly reducing his position.

American Century Companies Inc. boosted its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 64.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 148,238 shares of the financial services provider's stock after acquiring an additional 57,969 shares during the period. American Century Companies Inc. owned 0.31% of Jones Lang LaSalle worth $44,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of JLL. Integrated Wealth Concepts LLC acquired a new stake in Jones Lang LaSalle in the 1st quarter valued at $546,000. Empowered Funds LLC lifted its stake in shares of Jones Lang LaSalle by 203.1% in the first quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock valued at $1,003,000 after buying an additional 2,711 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Jones Lang LaSalle by 22.6% during the second quarter. Bank of Montreal Can now owns 9,547 shares of the financial services provider's stock valued at $2,442,000 after buying an additional 1,761 shares during the last quarter. RWA Wealth Partners LLC increased its position in shares of Jones Lang LaSalle by 78.2% during the second quarter. RWA Wealth Partners LLC now owns 1,782 shares of the financial services provider's stock worth $456,000 after acquiring an additional 782 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Jones Lang LaSalle by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 2,104 shares of the financial services provider's stock worth $538,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price target on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Zacks Research upgraded Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a report on Friday, February 20th. Wall Street Zen upgraded Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a report on Sunday, January 11th. Barclays started coverage on Jones Lang LaSalle in a research note on Tuesday, December 2nd. They set an "equal weight" rating and a $351.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and an average target price of $362.50.

Insider Activity

In related news, CEO Christian Ulbrich sold 96 shares of the company's stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $332.18, for a total transaction of $31,889.28. Following the sale, the chief executive officer directly owned 114,685 shares in the company, valued at approximately $38,096,063.30. This represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Stock Performance

Shares of JLL opened at $299.21 on Friday. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $363.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23. The stock's fifty day moving average price is $332.36 and its two-hundred day moving average price is $318.33. The firm has a market cap of $14.02 billion, a PE ratio of 18.23 and a beta of 1.42.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share for the quarter, topping the consensus estimate of $7.25 by $1.46. The company had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.45 billion. Jones Lang LaSalle had a return on equity of 12.50% and a net margin of 3.03%.The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.15 EPS. On average, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS 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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