Bank of America Corp DE Acquires New Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Bank of America acquired 270,338 JLL shares during the second quarter, worth approximately $83.8 million and representing about 0.59% of the company. Other institutional investors also initiated positions, with institutions collectively owning 94.8% of JLL.
• Analyst sentiment remains positive, with JLL carrying a consensus “Moderate Buy” rating and an average price target of $433.60. Recent targets range from $401 to $500.
• JLL exceeded quarterly expectations, reporting $5.26 in EPS versus the $4.56 consensus and $6.93 billion in revenue, up 10.8% year over year. The CEO separately sold 2,000 shares under a pre-arranged trading plan.

Bank of America Corp DE acquired a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 270,338 shares of the financial services provider's stock, valued at approximately $83,791,000. Bank of America Corp DE owned approximately 0.59% of Jones Lang LaSalle as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JLL. Man Group plc purchased a new position in Jones Lang LaSalle in the 2nd quarter worth about $10,955,000. Jupiter Topco LLC bought a new stake in shares of Jones Lang LaSalle in the second quarter worth approximately $27,139,000. Hsbc Holdings PLC purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $1,592,000. Cooper Haims Advisors LLC bought a new position in Jones Lang LaSalle during the second quarter valued at approximately $212,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Jones Lang LaSalle in the second quarter worth approximately $21,244,000. Institutional investors own 94.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James Financial restated a "strong-buy" rating and issued a $500.00 price target on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Citigroup reissued a "market perform" rating on shares of Jones Lang LaSalle in a report on Thursday. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Barclays upped their price target on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the company an "equal weight" rating in a research report on Monday, August 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $433.60.

Insider Buying and Selling at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of Jones Lang LaSalle stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total transaction of $771,060.00. Following the transaction, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. The trade was a 1.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,000 shares of company stock worth $2,271,060. 0.91% of the stock is currently owned by insiders.

Jones Lang LaSalle Stock Performance

Shares of JLL opened at $336.06 on Friday. The business has a 50-day simple moving average of $354.25 and a two-hundred day simple moving average of $324.92. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $393.84. The stock has a market cap of $15.46 billion, a price-to-earnings ratio of 16.10 and a beta of 1.24.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. The company had revenue of $6.93 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $3.30 EPS. On average, analysts expect that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current year.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL, operating under the JLL brand, is a global commercial real estate services and investment management company. It advises property owners, occupiers, investors and developers across the real estate lifecycle, with services that include leasing, capital markets, investment sales and acquisitions, valuation and advisory, research, development consulting, and property and facilities management.

JLL also provides project and development management, workplace strategy, sustainability consulting, and technology-enabled real estate solutions.

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