Fifth Third Bancorp Purchases 15,022 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Fifth Third Bancorp increased its stake in Jones Lang LaSalle by 667.6% in the first quarter, adding 15,022 shares and bringing its total holding to 17,272 shares worth about $5.26 million.
• Other institutional investors also adjusted positions in JLL, and the company remains heavily institutionally owned, with institutions holding 94.80% of the stock.
• JLL reported strong quarterly results, posting $3.43 EPS versus the $3.01 estimate and revenue of $6.39 billion, while analysts currently view the stock as a Moderate Buy with an average target price of $394.

Fifth Third Bancorp lifted its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 667.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,272 shares of the financial services provider's stock after acquiring an additional 15,022 shares during the quarter. Fifth Third Bancorp's holdings in Jones Lang LaSalle were worth $5,256,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Moran Wealth Management LLC bought a new position in Jones Lang LaSalle during the 1st quarter worth $4,405,000. Perigon Wealth Management LLC acquired a new position in shares of Jones Lang LaSalle in the 4th quarter valued at approximately $3,901,000. Geode Capital Management LLC lifted its stake in Jones Lang LaSalle by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider's stock worth $333,451,000 after purchasing an additional 15,995 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Jones Lang LaSalle during the 4th quarter worth $1,507,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Jones Lang LaSalle by 78.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider's stock worth $9,723,000 after buying an additional 12,699 shares during the last quarter. Institutional investors own 94.80% of the company's stock.

Insider Activity at Jones Lang LaSalle

In other news, Director Larry Quinlan sold 402 shares of the firm's stock in a transaction on Friday, June 12th. The stock was 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 of the company's stock, valued at $1,318,258.37. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

JLL has been the topic of a number of recent analyst reports. Weiss Ratings cut Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. UBS Group increased their target price on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Zacks Research raised shares of Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 24th. Finally, Barclays increased their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 13th. One research 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $394.00.

Jones Lang LaSalle Price Performance

Shares of NYSE:JLL opened at $330.90 on Friday. Jones Lang LaSalle Incorporated has a twelve month low of $251.54 and a twelve month high of $363.06. The stock's 50 day moving average is $305.05 and its 200-day moving average is $317.90. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 17.79 and a beta of 1.27.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.42. The business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 EPS. Sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 22.83 EPS for the current fiscal year.

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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