Bank of America Corp DE Has $92.34 Million Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Bank of America increased its Jones Lang LaSalle stake by 1.3% in the first quarter, holding 303,446 shares worth approximately $92.35 million. Institutional investors and hedge funds collectively own 94.8% of JLL.
• Analyst sentiment remains positive overall, with JLL carrying a consensus “Moderate Buy” rating and an average price target of $417.83, despite some recent downgrades to “Hold” or lower-tier buy ratings.
• JLL reported quarterly earnings of $5.26 per share, beating estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion. The stock opened at $361.86, near its 52-week high of $373.29.

Bank of America Corp DE grew its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303,446 shares of the financial services provider's stock after purchasing an additional 3,985 shares during the quarter. Bank of America Corp DE owned about 0.65% of Jones Lang LaSalle worth $92,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Jones Lang LaSalle during the 3rd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in Jones Lang LaSalle in the 4th quarter worth approximately $29,000. Activest Wealth Management boosted its position in Jones Lang LaSalle by 1,720.0% during the fourth 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 position in Jones Lang LaSalle during the fourth quarter valued at approximately $35,000. Finally, Bayforest Capital Ltd bought a new position in shares of Jones Lang LaSalle in the fourth quarter valued at approximately $55,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JLL has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. Zacks Research cut shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. UBS Group lifted their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods boosted their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, Barclays increased their target price on Jones Lang LaSalle from $366.00 to $368.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. One 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $417.83.

Jones Lang LaSalle Stock Performance

NYSE:JLL opened at $361.86 on Friday. The firm's 50-day moving average is $320.35 and its 200-day moving average is $317.93. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $373.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $16.65 billion, a price-to-earnings ratio of 17.34 and a beta of 1.25.

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

Insider Buying and Selling at Jones Lang LaSalle

In other news, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total transaction of $121,295.46. Following the sale, the director owned 4,369 shares of the company's stock, valued at approximately $1,318,258.37. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

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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