Freedom Investment Management Inc. Makes New $228,000 Investment in Jones Lang LaSalle Incorporated $JLL

Key Points

• Freedom Investment Management Inc. has acquired 920 shares of Jones Lang LaSalle Incorporated valued at approximately $228,000, marking a new investment in the company during the 1st quarter.
• Other institutional investors, such as Norden Group LLC and Universal Beteiligungs und Servicegesellschaft mbH, have also significantly increased their stakes in Jones Lang LaSalle, with institutional ownership reaching 94.80%.
• Jones Lang LaSalle recently reported earnings of $3.30 per share for the quarter, exceeding estimates and reflecting a year-over-year revenue increase of 11.0%.

Freedom Investment Management Inc. acquired a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 920 shares of the financial services provider's stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC grew its position in Jones Lang LaSalle by 84.4% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 5,358 shares of the financial services provider's stock worth $1,328,000 after purchasing an additional 2,453 shares during the last quarter. Southeast Asset Advisors LLC bought a new position in Jones Lang LaSalle in the 1st quarter worth about $1,361,000. Oliver Luxxe Assets LLC grew its position in Jones Lang LaSalle by 4.0% in the 1st quarter. Oliver Luxxe Assets LLC now owns 24,137 shares of the financial services provider's stock worth $5,984,000 after purchasing an additional 931 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Jones Lang LaSalle by 0.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 307,632 shares of the financial services provider's stock worth $76,265,000 after purchasing an additional 1,055 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Jones Lang LaSalle in the 1st quarter worth about $38,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Price Performance

Shares of Jones Lang LaSalle stock traded up $1.04 on Friday, hitting $305.70. The company had a trading volume of 325,454 shares, compared to its average volume of 479,330. The company has a market cap of $14.48 billion, a PE ratio of 26.29 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $308.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50-day simple moving average of $271.49 and a 200-day simple moving average of $249.54.

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, topping analysts' consensus estimates of $3.20 by $0.10. The firm had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. Research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the completion of the transaction, the chief executive officer owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on JLL shares. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday. Citigroup decreased their target price on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, JMP Securities initiated coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $328.57.

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.