Raymond James Financial Inc. Grows Stake in Jones Lang LaSalle Incorporated $JLL

Key Points

• Raymond James Financial Inc. increased its stake in Jones Lang LaSalle by 89.1% in Q1, owning around 197,857 shares valued at approximately $49 million.
• Analysts have revised their ratings, with Goldman Sachs raising the price target for Jones Lang LaSalle from $338 to $378 and issuing a "buy" rating.
• Jones Lang LaSalle reported earnings of $3.30 per share for the last quarter, exceeding estimates, with total quarterly revenues reaching $6.25 billion.

Raymond James Financial Inc. lifted its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 89.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,857 shares of the financial services provider's stock after buying an additional 93,223 shares during the period. Raymond James Financial Inc. owned approximately 0.42% of Jones Lang LaSalle worth $49,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in JLL. Golden State Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle during the first quarter worth $33,000. Western Pacific Wealth Management LP acquired a new position in Jones Lang LaSalle during the first quarter valued at $41,000. Versant Capital Management Inc lifted its position in Jones Lang LaSalle by 356.3% during the first 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 period. Covestor Ltd lifted its position in Jones Lang LaSalle by 30.4% during the first 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 period. Finally, Farther Finance Advisors LLC lifted its position in Jones Lang LaSalle by 39.9% during the first 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 period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on JLL shares. Citigroup decreased their target price on shares of 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. Keefe, Bruyette & Woods boosted their target price on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. JMP Securities started coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $328.57.

Jones Lang LaSalle Stock Performance

JLL traded up $1.03 on Wednesday, reaching $306.51. The stock had a trading volume of 365,364 shares, compared to its average volume of 501,378. Jones Lang LaSalle Incorporated has a 12-month low of $194.36 and a 12-month high of $308.61. 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 business's 50-day moving average price is $268.80 and its two-hundred day moving average price is $249.53. The company has a market cap of $14.52 billion, a P/E ratio of 26.36 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the previous year, the company earned $2.55 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the completion of the sale, the chief executive officer owned 10,297 shares of the company's stock, valued at $2,450,377.09. The trade was 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 this link. 0.91% of the stock is owned by corporate insiders.

Jones Lang LaSalle Company 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.