Jones Lang LaSalle Incorporated $JLL Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Jones Lang LaSalle by 5.7%, owning 44,707 shares valued at approximately $11.4 million.
• Jones Lang LaSalle reported a net income of $3.30 per share in its latest earnings, exceeding analyst estimates, with quarterly revenue up 11.0% year-over-year.
• Analysts have raised their price targets for Jones Lang LaSalle, with JPMorgan increasing theirs from $285 to $372 and Goldman Sachs from $338 to $378, supporting a general "Moderate Buy" consensus rating.

Public Employees Retirement System of Ohio lifted its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 5.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,707 shares of the financial services provider's stock after purchasing an additional 2,397 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.09% of Jones Lang LaSalle worth $11,435,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in JLL. Norden Group LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter valued at about $287,000. PNC Financial Services Group Inc. grew its position in Jones Lang LaSalle by 11.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,605 shares of the financial services provider's stock worth $646,000 after purchasing an additional 262 shares during the last quarter. Bridges Investment Management Inc. increased its stake in Jones Lang LaSalle by 120.0% during the 1st quarter. Bridges Investment Management Inc. now owns 4,447 shares of the financial services provider's stock valued at $1,102,000 after purchasing an additional 2,426 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Jones Lang LaSalle during the first quarter worth $8,164,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Jones Lang LaSalle by 34.5% during the first quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider's stock valued at $2,176,000 after buying an additional 2,252 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Trading Up 0.2%

Shares of NYSE:JLL opened at $301.48 on Friday. The company has a market capitalization of $14.28 billion, a PE ratio of 25.92 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 12-month low of $194.36 and a 12-month high of $322.36. The business has a 50 day moving average of $293.35 and a two-hundred day moving average of $255.73. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on JLL shares. JPMorgan Chase & Co. raised their target price on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Keefe, Bruyette & Woods increased their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. UBS Group lifted their target price on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group increased their price target on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, JMP Securities began coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $328.57.

Jones Lang LaSalle Profile

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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