Glenmede Trust Co. NA Acquires 21,005 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Glenmede Trust increased its Jones Lang LaSalle stake by 449.7% in the first quarter, acquiring 21,005 additional shares and bringing its holdings to 25,676 shares valued at approximately $7.8 million.
• JLL reported quarterly EPS of $5.26, exceeding estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. The stock opened at $366.01, near its 52-week high.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $417.83; recent targets range from $368 to $500.

Glenmede Trust Co. NA boosted its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 449.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,676 shares of the financial services provider's stock after buying an additional 21,005 shares during the period. Glenmede Trust Co. NA owned approximately 0.06% of Jones Lang LaSalle worth $7,814,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in JLL. Sunbelt Securities Inc. acquired a new stake in shares of Jones Lang LaSalle during the third quarter worth $25,000. International Assets Investment Management LLC bought a new position in Jones Lang LaSalle during the 4th quarter worth about $29,000. Activest Wealth Management raised its stake in shares of Jones Lang LaSalle by 1,720.0% in the 4th quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 86 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Jones Lang LaSalle in the fourth quarter valued at about $35,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Jones Lang LaSalle during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Stock Up 3.1%

JLL stock opened at $366.01 on Tuesday. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 17.54 and a beta of 1.24. Jones Lang LaSalle Incorporated has a twelve month low of $259.83 and a twelve month high of $367.37. The business has a 50 day moving average price of $313.98 and a two-hundred day moving average price of $317.23. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.56 by $0.70. The company had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The business's revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 EPS. Analysts anticipate that Jones Lang LaSalle Incorporated will post 22.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday. Weiss Ratings downgraded shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. UBS Group boosted their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Barclays increased their target price on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $500.00 target price on shares of Jones Lang LaSalle in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Jones Lang LaSalle has a consensus rating of "Moderate Buy" and an average price target of $417.83.

Insiders Place Their Bets

In other Jones Lang LaSalle news, Director Larry Quinlan sold 403 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the sale, the director directly owned 4,771 shares of the company's stock, valued at approximately $1,408,112.94. This represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle Company 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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