Corient Private Wealth LP Makes New $15.57 Million Investment in Jones Lang LaSalle Incorporated $JLL

Key Points

• Corient Private Wealth LP initiated a $15.57 million position in Jones Lang LaSalle, purchasing 50,247 shares and holding approximately 0.11% of the company. Institutional investors and hedge funds collectively own 94.8% of JLL.
• JLL reported strong quarterly results, with adjusted EPS of $5.26 beating estimates of $4.56 and revenue rising 10.8% year over year to $6.93 billion.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $433.60, above its reported price of $378.94.

Corient Private Wealth LP purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,247 shares of the financial services provider's stock, valued at approximately $15,574,000. Corient Private Wealth LP owned 0.11% of Jones Lang LaSalle at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of JLL. BlackRock Inc. acquired a new stake in Jones Lang LaSalle in the 2nd quarter valued at approximately $1,446,414,000. AQR Capital Management LLC boosted its position in Jones Lang LaSalle by 426.7% during the 4th quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider's stock worth $302,697,000 after acquiring an additional 728,824 shares during the last quarter. Norges Bank bought a new position in shares of Jones Lang LaSalle during the 4th quarter worth approximately $194,950,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Jones Lang LaSalle in the fourth quarter valued at approximately $132,263,000. Finally, Millennium Management LLC raised its holdings in shares of Jones Lang LaSalle by 4,285.3% in the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock valued at $104,643,000 after purchasing an additional 342,821 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $385.53, for a total transaction of $771,060.00. Following the sale, the chief executive officer directly owned 138,418 shares in the company, valued at $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the sale, the director owned 4,771 shares in the company, valued at $1,408,112.94. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,805 shares of company stock valued at $2,511,297. 0.91% of the stock is owned by insiders.

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $378.94 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $344.31 and its 200-day moving average is $320.79. Jones Lang LaSalle Incorporated has a 12 month low of $259.83 and a 12 month high of $393.84. The company has a market capitalization of $17.44 billion, a price-to-earnings ratio of 18.16 and a beta of 1.25.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its earnings results 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. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $6.88 billion. During the same quarter in the previous 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. Equities research analysts expect that Jones Lang LaSalle Incorporated will post 24.59 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on JLL shares. Keefe, Bruyette & Woods increased their target price 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. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 18th. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Barclays upped their price objective on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $433.60.

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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