Cetera Investment Advisers Purchases 5,284 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Cetera Investment Advisers increased its stake in Jones Lang LaSalle Incorporated by 70.3%, owning a total of 12,805 shares valued at approximately $3.17 million, following the purchase of 5,284 additional shares.
• Analysts have mixed views on the stock; while UBS Group raised its price target to $340 with a "buy" rating, Citigroup downgraded it to a "neutral" rating with a reduced target of $240.
• Jones Lang LaSalle's recent quarterly earnings surpassed expectations, reporting $2.31 EPS and a revenue of $5.75 billion, reflecting a 12.1% year-over-year increase.

Cetera Investment Advisers increased its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 70.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,805 shares of the financial services provider's stock after buying an additional 5,284 shares during the quarter. Cetera Investment Advisers' holdings in Jones Lang LaSalle were worth $3,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC lifted its position in Jones Lang LaSalle by 55.2% in the fourth quarter. LPL Financial LLC now owns 12,285 shares of the financial services provider's stock valued at $3,110,000 after purchasing an additional 4,371 shares during the last quarter. Schroder Investment Management Group lifted its position in Jones Lang LaSalle by 223.0% in the fourth quarter. Schroder Investment Management Group now owns 2,468 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 1,704 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Jones Lang LaSalle by 25.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 50 shares during the last quarter. National Bank of Canada FI bought a new stake in Jones Lang LaSalle in the fourth quarter valued at approximately $2,586,000. Finally, Trexquant Investment LP bought a new stake in Jones Lang LaSalle in the fourth quarter valued at approximately $1,404,000. Institutional investors own 94.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup lowered their price objective on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods boosted their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. JMP Securities initiated coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating on the stock. Wall Street Zen downgraded Jones Lang LaSalle from a "buy" rating to a "hold" rating in a report on Monday, July 28th. Finally, UBS Group upped their target price on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $312.43.

Jones Lang LaSalle Price Performance

Shares of Jones Lang LaSalle stock opened at $272.91 on Wednesday. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 24.68 and a beta of 1.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a 50 day moving average price of $249.22 and a 200-day moving average price of $247.71. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $288.50.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.29. Jones Lang LaSalle had a return on equity of 10.37% and a net margin of 2.23%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company earned $1.78 EPS. Jones Lang LaSalle's quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $237.97, for a total value of $65,441.75. Following the completion of the transaction, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Company 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.

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