EdgePoint Investment Group Inc. Raises Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• EdgePoint Investment Group Inc. increased its stake in Jones Lang LaSalle by 11.9%, acquiring an additional 195,818 shares, which now makes up approximately 3.7% of its portfolio.
• CEO Andrew W. Poppink sold 275 shares of the company for a total value of $65,441.75, reducing his position by 2.60%.
• Jones Lang LaSalle's stock currently holds a market capitalization of $14.24 billion and has seen a year-over-year revenue increase of 11.0%, reporting earnings per share of $3.30 in its latest quarter.

EdgePoint Investment Group Inc. grew its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,835,344 shares of the financial services provider's stock after acquiring an additional 195,818 shares during the period. Jones Lang LaSalle comprises about 3.7% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 14th biggest position. EdgePoint Investment Group Inc. owned about 3.87% of Jones Lang LaSalle worth $455,000,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in JLL. Allianz Asset Management GmbH increased its holdings in shares of Jones Lang LaSalle by 194.0% in the first quarter. Allianz Asset Management GmbH now owns 395,337 shares of the financial services provider's stock worth $98,008,000 after purchasing an additional 260,847 shares during the last quarter. Nuveen LLC bought a new stake in shares of Jones Lang LaSalle in the first quarter worth about $53,533,000. GAMMA Investing LLC lifted its position in Jones Lang LaSalle by 25,132.7% during the first quarter. GAMMA Investing LLC now owns 212,459 shares of the financial services provider's stock valued at $52,671,000 after purchasing an additional 211,617 shares during the last quarter. Millennium Management LLC lifted its position in Jones Lang LaSalle by 146.2% during the fourth quarter. Millennium Management LLC now owns 335,451 shares of the financial services provider's stock valued at $84,916,000 after purchasing an additional 199,197 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Jones Lang LaSalle by 285.8% during the first quarter. Blair William & Co. IL now owns 217,835 shares of the financial services provider's stock worth $54,003,000 after acquiring an additional 161,371 shares during the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle 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 sale, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Trading Down 1.0%

Jones Lang LaSalle stock traded down $3.21 during mid-day trading on Tuesday, hitting $308.78. The company's stock had a trading volume of 171,854 shares, compared to its average volume of 404,814. The firm has a market capitalization of $14.63 billion, a PE ratio of 26.56 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $315.14. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average is $278.04 and its two-hundred day moving average is $250.79.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued 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. The company had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.17 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 earnings per share. On average, analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup reduced their price objective on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. UBS Group increased their price objective on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. Keefe, Bruyette & Woods raised their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $328.57.

Jones Lang LaSalle 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.