First Citizens Bank & Trust Co. Raises Stock Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• First Citizens Bank & Trust Co. has increased its stake in Jones Lang LaSalle by 225.7%, acquiring a total of 3,097 shares valued at approximately $792,000.
• Several other institutional investors have also significantly boosted their holdings in Jones Lang LaSalle, with hedge funds owning 94.80% of the stock.
• Jones Lang LaSalle reported a strong quarterly earnings result of $3.30 EPS, surpassing expectations and indicating an 11% revenue growth year-over-year.

First Citizens Bank & Trust Co. boosted its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 225.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,097 shares of the financial services provider's stock after purchasing an additional 2,146 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Jones Lang LaSalle were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Jones Lang LaSalle by 322.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Jones Lang LaSalle in the 1st quarter worth about $33,000. SVB Wealth LLC purchased a new stake in shares of Jones Lang LaSalle in the 1st quarter valued at about $38,000. Whittier Trust Co. boosted its position in shares of Jones Lang LaSalle by 40.9% during the 2nd quarter. Whittier Trust Co. now owns 217 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 63 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock worth $80,000 after purchasing an additional 189 shares during the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Up 0.3%

Shares of NYSE:JLL opened at $317.32 on Friday. The stock has a market capitalization of $15.03 billion, a P/E ratio of 27.28 and a beta of 1.39. The stock's 50-day moving average price is $303.31 and its 200-day moving average price is $263.14. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Jones Lang LaSalle Incorporated has a 12-month low of $194.36 and a 12-month high of $322.36.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, beating 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 company had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same period in the prior year, the business posted $2.55 EPS. Jones Lang LaSalle's quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JLL has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Jones Lang LaSalle in a research report on Wednesday, October 8th. JMP Securities started coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $317.00 to $345.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. lifted their price target 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. Finally, Citizens Jmp assumed coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $338.29.

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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