Hsbc Holdings PLC Buys 8,400 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• HSBC Holdings PLC increased its stake in Jones Lang LaSalle by 24.9% during Q1, acquiring an additional 8,400 shares, bringing its total ownership to about 42,079 shares, valued at $10.37 million.
• Several hedge funds have also increased their holdings in Jones Lang LaSalle, with Northern Trust Corp growing its stake by 21.6% and Raymond James Financial increasing theirs by 89.1% in the same period.
• Analysts have mixed sentiments on Jones Lang LaSalle, with UBS Group raising its price target from $305 to $340, while others have downgraded their ratings, reflecting a consensus average rating of "Moderate Buy."

Hsbc Holdings PLC grew its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 24.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,079 shares of the financial services provider's stock after acquiring an additional 8,400 shares during the period. Hsbc Holdings PLC owned about 0.09% of Jones Lang LaSalle worth $10,373,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Northern Trust Corp grew its holdings in Jones Lang LaSalle by 21.6% during the first quarter. Northern Trust Corp now owns 548,227 shares of the financial services provider's stock valued at $135,911,000 after purchasing an additional 97,492 shares during the period. Brooklyn Investment Group lifted its position in shares of Jones Lang LaSalle by 142.1% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock valued at $80,000 after buying an additional 189 shares during the last quarter. Roberts Capital Advisors LLC bought a new position in shares of Jones Lang LaSalle during the 1st quarter worth $599,000. Raymond James Financial Inc. increased its holdings in Jones Lang LaSalle by 89.1% in the 1st quarter. Raymond James Financial Inc. now owns 197,857 shares of the financial services provider's stock worth $49,052,000 after acquiring an additional 93,223 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Jones Lang LaSalle in the 1st quarter valued at about $323,000. Institutional investors own 94.80% of the company's stock.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the stock in a transaction 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 transaction, the chief executive officer owned 10,297 shares of the company's stock, valued at $2,450,377.09. This represents a 2.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JLL shares. UBS Group lifted their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of Jones Lang LaSalle from a "buy" rating to a "hold" rating in a research note on Saturday. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods raised their price target on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Citigroup reduced their price target on 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle presently has an average rating of "Moderate Buy" and a consensus price target of $316.14.

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $303.6020 on Monday. The stock has a market cap of $14.38 billion, a price-to-earnings ratio of 26.11 and a beta of 1.38. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $264.69 and a 200 day simple moving average of $248.55. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $306.22.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.10. The firm had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.17 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $2.55 EPS. On average, research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

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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