BlackRock Inc. Invests $1.45 Billion in Jones Lang LaSalle Incorporated $JLL

Key Points

• BlackRock acquired 4.67 million JLL shares worth approximately $1.45 billion, giving it a 10.14% ownership stake. Institutional investors collectively own 94.8% of the company.
• Analysts maintain a generally positive view, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $423.33. Recent targets range from $401 to $500.
• JLL reported quarterly EPS of $5.26, beating estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. The stock recently traded at $384.84, near its 52-week high of $393.84.

BlackRock Inc. purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,666,603 shares of the financial services provider's stock, valued at approximately $1,446,414,000. BlackRock Inc. owned 10.14% of Jones Lang LaSalle at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Jones Lang LaSalle during the second quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new stake in Jones Lang LaSalle in the third quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in Jones Lang LaSalle in the fourth quarter valued at about $29,000. Activest Wealth Management raised its stake 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 acquiring an additional 86 shares in the last quarter. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Jones Lang LaSalle in the fourth quarter worth about $35,000. Institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JLL. Raymond James Financial reaffirmed a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their target price 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. Barclays boosted their target price on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given 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 price target of $423.33.

Jones Lang LaSalle Price Performance

JLL stock opened at $384.84 on Friday. The company has a market capitalization of $17.71 billion, a P/E ratio of 18.44 and a beta of 1.25. The company has a fifty day moving average price of $333.92 and a 200-day moving average price of $318.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $393.84.

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

Insider Activity at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the transaction, the chief executive officer owned 140,418 shares in the company, valued at $54,135,351.54. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the sale, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,805 shares of company stock valued at $2,511,297. Company 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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