Empowered Funds LLC Invests $5.58 Million in Jones Lang LaSalle Incorporated $JLL

Key Points

• Empowered Funds LLC initiated a $5.58 million position in Jones Lang LaSalle, while institutional investors and hedge funds collectively own 94.8% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $433.60; several firms recently raised their targets, although Zacks downgraded the stock to “Hold.”
• JLL beat quarterly earnings expectations, reporting $5.26 in EPS versus the $4.56 consensus and 10.8% year-over-year revenue growth. Shares opened at $378.94, near their 52-week high of $393.84, while insiders have sold $2.51 million of stock over the past 90 days.

Empowered Funds LLC purchased a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,011 shares of the financial services provider's stock, valued at approximately $5,583,000.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Jones Lang LaSalle during the 3rd quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new position in Jones Lang LaSalle during the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. acquired a new position in Jones Lang LaSalle during the second quarter worth $34,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Jones Lang LaSalle in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JLL. Keefe, Bruyette & Woods boosted their price target 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. Raymond James Financial reiterated a "strong-buy" rating and issued a $500.00 price objective on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Barclays raised their target price 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. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 18th. Finally, Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $433.60.

Jones Lang LaSalle Trading Up 0.2%

NYSE JLL opened at $378.94 on Monday. Jones Lang LaSalle Incorporated has a one year low of $259.83 and a one year high of $393.84. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 18.16 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a 50 day simple moving average of $344.31 and a 200-day simple moving average of $320.60.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced 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. The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company's revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $3.30 EPS. Equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 24.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the transaction, the chief executive officer directly owned 138,418 shares of the company's stock, valued at $53,364,291.54. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the transaction, the director directly owned 4,369 shares of the company's stock, valued at approximately $1,318,258.37. This represents a 8.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,805 shares of company stock worth $2,511,297. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source