Jones Lang LaSalle Incorporated $JLL Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Jones Lang LaSalle by 55.1%, owning approximately 0.44% of the company with a total value of $53.7 million.
• Other institutional investors have also significantly boosted their positions in JLL, indicating strong institutional interest as hedge funds collectively own 94.80% of the company's stock.
• Analysts have shown a mix of sentiments, with Citigroup lowering its price target to $240 while Goldman Sachs increased its target to $378, resulting in an average price target of $328.57.

Assenagon Asset Management S.A. increased its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 55.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,936 shares of the financial services provider's stock after acquiring an additional 74,575 shares during the period. Assenagon Asset Management S.A. owned approximately 0.44% of Jones Lang LaSalle worth $53,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWC Advisors LLC. lifted its stake in shares of Jones Lang LaSalle by 2.9% in the second quarter. CWC Advisors LLC. now owns 2,195 shares of the financial services provider's stock worth $561,000 after buying an additional 61 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at $1,068,000. Swedbank AB boosted its position in shares of Jones Lang LaSalle by 115.0% during the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider's stock worth $239,960,000 after buying an additional 501,716 shares during the period. Procyon Advisors LLC raised its position in shares of Jones Lang LaSalle by 16.8% in the second quarter. Procyon Advisors LLC now owns 1,498 shares of the financial services provider's stock valued at $383,000 after buying an additional 216 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its position in Jones Lang LaSalle by 710.6% during the second quarter. Gateway Investment Advisers LLC now owns 14,842 shares of the financial services provider's stock valued at $3,796,000 after purchasing an additional 13,011 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JLL shares. UBS Group increased their target price on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods raised their price target on 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 lifted their target price on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Citigroup lowered their price target on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. One research 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 stock. Based on data from MarketBeat.com, Jones Lang LaSalle presently has an average rating of "Moderate Buy" and an average target price of $328.57.

Jones Lang LaSalle Trading Up 0.0%

Jones Lang LaSalle stock traded up $0.01 during trading on Tuesday, hitting $313.69. The company had a trading volume of 75,413 shares, compared to its average volume of 407,948. 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 stock has a market cap of $14.86 billion, a price-to-earnings ratio of 26.98 and a beta of 1.41. The company's 50 day simple moving average is $289.09 and its 200-day simple moving average is $254.19. Jones Lang LaSalle Incorporated has a 1-year low of $194.36 and a 1-year high of $322.36.

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

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.