Equity Investment Corp Purchases New Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• Equity Investment Corp acquired 261,514 shares of Jones Lang LaSalle in the second quarter, valued at approximately $81.1 million and representing 0.57% of the company. Institutional investors collectively own 94.8% of JLL.
• JLL reported quarterly EPS of $5.26, beating estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion. Shares opened at $371.01, near the 52-week high of $376.85.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $423.33, although insiders have sold 4,805 shares worth about $1.74 million over the past 90 days.

Equity Investment Corp acquired a new position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 261,514 shares of the financial services provider's stock, valued at approximately $81,056,000. Equity Investment Corp owned about 0.57% of Jones Lang LaSalle at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Assetmark Inc. increased its position in shares of Jones Lang LaSalle by 15.8% during the fourth quarter. Assetmark Inc. now owns 220 shares of the financial services provider's stock worth $74,000 after acquiring an additional 30 shares during the period. Hilton Head Capital Partners LLC lifted its holdings in shares of Jones Lang LaSalle by 40.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 146 shares of the financial services provider's stock worth $44,000 after buying an additional 42 shares during the period. UMB Bank n.a. grew its position in shares of Jones Lang LaSalle by 10.6% during the 4th quarter. UMB Bank n.a. now owns 490 shares of the financial services provider's stock worth $165,000 after buying an additional 47 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Jones Lang LaSalle by 5.3% during the fourth quarter. Ballentine Partners LLC now owns 951 shares of the financial services provider's stock valued at $320,000 after buying an additional 48 shares during the period. Finally, Root Financial Partners LLC lifted its stake in Jones Lang LaSalle by 27.4% in the first quarter. Root Financial Partners LLC now owns 223 shares of the financial services provider's stock worth $68,000 after acquiring an additional 48 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $375.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer directly owned 144,418 shares of the company's stock, valued at $54,156,750. This represents a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 shares were sold at an average price of $301.73, for a total transaction of $121,295.46. Following the completion of the sale, the director directly owned 4,369 shares in the company, valued at $1,318,258.37. This represents a 8.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 4,805 shares of company stock worth $1,740,237. 0.91% of the stock is owned by company insiders.

Jones Lang LaSalle Stock Up 0.2%

Jones Lang LaSalle stock opened at $371.01 on Wednesday. The business's 50-day simple moving average is $330.35 and its two-hundred day simple moving average is $318.29. 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 company has a market cap of $17.07 billion, a PE ratio of 17.78 and a beta of 1.24. Jones Lang LaSalle Incorporated has a fifty-two week low of $259.83 and a fifty-two week high of $376.85.

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 EPS for the quarter, beating the consensus estimate 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 business had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $6.88 billion. During the same period in the previous year, the business posted $3.30 EPS. The business's quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JLL shares. Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Barclays lifted their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an "equal weight" rating in a report on Monday. UBS Group upped their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Weiss Ratings lowered Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $423.33.

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.

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