Assenagon Asset Management S.A. Has $19.04 Million Stock Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• Assenagon Asset Management reduced its Jones Lang LaSalle stake by 38.3% in the second quarter, selling 38,193 shares and retaining 61,433 shares valued at approximately $19.04 million.
• Analysts maintain a generally positive view of JLL, with a consensus rating of “Moderate Buy” and an average price target of $417.83; recent targets range from $368 to $500.
• JLL reported strong quarterly results, posting $5.26 in EPS versus the $4.56 estimate and $6.93 billion in revenue, up 10.8% year over year.

Assenagon Asset Management S.A. lowered its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 38.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,433 shares of the financial services provider's stock after selling 38,193 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Jones Lang LaSalle worth $19,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in shares of Jones Lang LaSalle during the third quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of Jones Lang LaSalle in the 4th quarter valued at $29,000. Activest Wealth Management boosted its stake in 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 worth $31,000 after purchasing an additional 86 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Jones Lang LaSalle in the fourth quarter valued at about $35,000. Finally, Bayforest Capital Ltd bought a new stake in Jones Lang LaSalle during the fourth quarter worth $55,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JLL has been the subject of a number of research analyst reports. Barclays boosted their price objective on Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. Raymond James Financial reiterated a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. UBS Group raised their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and a consensus target price of $417.83.

Jones Lang LaSalle Trading Down 0.1%

Shares of JLL stock opened at $361.86 on Monday. Jones Lang LaSalle Incorporated has a 1-year low of $259.83 and a 1-year high of $373.29. The stock has a 50-day moving average of $320.35 and a 200-day moving average of $317.66. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 17.34 and a beta of 1.24. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, topping the consensus estimate of $4.56 by $0.70. The business had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm's revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 earnings per share. On average, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Larry Quinlan sold 402 shares of the 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 completion of the sale, the director directly owned 4,369 shares of the company's stock, valued at $1,318,258.37. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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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