Jones Lang LaSalle Incorporated (NYSE:JLL) Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Jones Lang LaSalle Incorporated by 1.8% during the first quarter, acquiring a total of 961,959 shares valued at approximately $238.5 million.
• Jones Lang LaSalle recently reported earnings of $3.30 per share, beating analyst expectations, with a revenue of $6.25 billion for the quarter, representing an 11% increase year-over-year.
• Several hedge funds, including Atlas Capital Advisors Inc. and Covestor Ltd., also increased their positions in Jones Lang LaSalle, indicating strong institutional interest with hedge funds owning nearly 95% of the company’s stock.

Invesco Ltd. increased its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 961,959 shares of the financial services provider's stock after buying an additional 17,336 shares during the quarter. Invesco Ltd. owned 2.03% of Jones Lang LaSalle worth $238,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in Jones Lang LaSalle during the 1st quarter worth $33,000. Western Pacific Wealth Management LP purchased a new stake in Jones Lang LaSalle during the 1st quarter valued at about $41,000. Versant Capital Management Inc grew its stake in Jones Lang LaSalle by 356.3% during the 1st quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 253 shares during the last quarter. Covestor Ltd grew its stake in Jones Lang LaSalle by 30.4% during the 1st quarter. Covestor Ltd now owns 335 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 78 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Jones Lang LaSalle by 39.9% during the 1st quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 105 shares during the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Trading Up 0.4%

Jones Lang LaSalle stock traded up $1.08 during mid-day trading on Friday, hitting $294.71. The company's stock had a trading volume of 377,426 shares, compared to its average volume of 461,633. The firm has a market capitalization of $13.96 billion, a PE ratio of 25.34 and a beta of 1.38. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $298.39. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average is $258.67 and its two-hundred day moving average is $248.25.

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

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the transaction, the chief executive officer directly owned 10,297 shares in the company, valued at $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

JLL has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. JMP Securities initiated coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. Citigroup dropped 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. Finally, UBS Group upped their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $316.14.

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.