Cresset Asset Management LLC Makes New Investment in Jones Lang LaSalle Incorporated $JLL

Key Points

• Cresset Asset Management LLC has taken a new position in Jones Lang LaSalle Incorporated (NYSE:JLL), acquiring 1,303 shares valued at approximately $323,000 during the first quarter.
• Institutional investors now hold 94.80% of Jones Lang LaSalle's stock, with several expanding their positions significantly this year.
• Jones Lang LaSalle reported quarterly earnings of $3.30 per share, exceeding estimates and indicating an 11% year-over-year revenue growth to $6.25 billion.

Cresset Asset Management LLC bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,303 shares of the financial services provider's stock, valued at approximately $323,000.

Several other institutional investors have also recently modified their holdings of the company. EdgePoint Investment Group Inc. increased its position in shares of Jones Lang LaSalle by 5.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider's stock valued at $415,030,000 after purchasing an additional 88,479 shares during the last quarter. Invesco Ltd. increased its position in shares of Jones Lang LaSalle by 1.8% during the 1st quarter. Invesco Ltd. now owns 961,959 shares of the financial services provider's stock valued at $238,479,000 after purchasing an additional 17,336 shares during the last quarter. Vulcan Value Partners LLC increased its position in shares of Jones Lang LaSalle by 22.9% during the 1st quarter. Vulcan Value Partners LLC now owns 536,063 shares of the financial services provider's stock valued at $132,828,000 after purchasing an additional 99,837 shares during the last quarter. Northern Trust Corp increased its position in shares of Jones Lang LaSalle by 1.3% during the 4th quarter. Northern Trust Corp now owns 450,735 shares of the financial services provider's stock valued at $114,099,000 after purchasing an additional 5,572 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Jones Lang LaSalle by 51.5% during the 1st quarter. SG Americas Securities LLC now owns 422,688 shares of the financial services provider's stock valued at $104,789,000 after purchasing an additional 143,623 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JMP Securities assumed coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. The Goldman Sachs Group increased their target price on Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Citizens Jmp initiated coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. Wall Street Zen cut Jones Lang LaSalle from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Jones Lang LaSalle presently has an average rating of "Moderate Buy" and a consensus target price of $316.14.

Jones Lang LaSalle Trading Up 0.4%

NYSE JLL opened at $304.2850 on Tuesday. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $306.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a 50 day simple moving average of $265.97 and a two-hundred day simple moving average of $248.73. The stock has a market cap of $14.42 billion, a P/E ratio of 26.16 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter last year, the business posted $2.55 EPS. The business's revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 10,297 shares in the company, valued at approximately $2,450,377.09. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.91% of the company's stock.

About Jones Lang LaSalle

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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