Geode Capital Management LLC Has $333.45 Million Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Geode Capital Management increased its stake in Jones Lang LaSalle by 1.6% in the fourth quarter, ending with 990,836 shares valued at about $333.45 million. Institutional ownership remains very high, at 94.8% of the stock.
• JLL reported strong quarterly results, with earnings of $3.43 per share versus estimates of $3.01 and revenue of $6.39 billion versus expectations of $6.0 billion. Revenue also rose 11.1% year over year.
• Wall Street sentiment is mixed but constructive: analysts rate JLL Moderate Buy on average, with a consensus price target of $394. Recent insider sales by the CEO and a director were also disclosed.

Geode Capital Management LLC raised its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 990,836 shares of the financial services provider's stock after buying an additional 15,995 shares during the quarter. Geode Capital Management LLC owned about 2.10% of Jones Lang LaSalle worth $333,451,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of JLL. Equity Investment Corp acquired a new position in shares of Jones Lang LaSalle in the 3rd quarter valued at approximately $72,132,000. DigitalBridge Group Inc. acquired a new position in shares of Jones Lang LaSalle in the 3rd quarter valued at approximately $1,223,000. Ranger Investment Management L.P. grew its position in shares of Jones Lang LaSalle by 53.0% in the 3rd quarter. Ranger Investment Management L.P. now owns 75,950 shares of the financial services provider's stock valued at $22,654,000 after purchasing an additional 26,320 shares during the period. GenTrust LLC acquired a new position in shares of Jones Lang LaSalle in the 3rd quarter valued at approximately $750,000. Finally, Lighthouse Investment Partners LLC grew its position in shares of Jones Lang LaSalle by 41.8% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 30,316 shares of the financial services provider's stock valued at $9,043,000 after purchasing an additional 8,930 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Stock Up 0.9%

JLL opened at $284.85 on Tuesday. Jones Lang LaSalle Incorporated has a 1-year low of $217.21 and a 1-year high of $363.06. The stock's fifty day simple moving average is $312.20 and its 200 day simple moving average is $321.40. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. The stock has a market cap of $13.21 billion, a PE ratio of 15.31 and a beta of 1.29.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $6 billion. During the same quarter in the prior year, the business earned $2.31 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that Jones Lang LaSalle Incorporated will post 22.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JLL has been the subject of a number of recent research reports. Barclays upped their price target on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 13th. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. 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. Keefe, Bruyette & Woods dropped their price objective on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Finally, Weiss Ratings cut Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and a consensus price target of $394.00.

Insider Buying and Selling at Jones Lang LaSalle

In other Jones Lang LaSalle news, Director Deborah H. Mcaneny sold 2,500 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the transaction, the director owned 14,985 shares in the company, valued at $4,502,992.50. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Bloxam sold 5,440 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total value of $1,615,353.60. The SEC filing for this sale provides additional information. 0.91% of the stock is owned by company insiders.

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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