Jones Lang LaSalle Incorporated $JLL Shares Bought by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC increased its stake in Jones Lang LaSalle Incorporated by 4.9% during the second quarter, owning 25,311 shares valued at approximately $6.47 million.
• Several analysts have raised their price targets for Jones Lang LaSalle, with UBS increasing theirs from $305.00 to $340.00 and JPMorgan from $285.00 to $372.00, indicating strong market confidence.
• The company reported quarterly earnings of $3.30 EPS, exceeding estimates, and had an 11.0% year-over-year revenue increase, amounting to $6.25 billion.

Oliver Luxxe Assets LLC lifted its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,311 shares of the financial services provider's stock after acquiring an additional 1,174 shares during the period. Jones Lang LaSalle comprises approximately 1.2% of Oliver Luxxe Assets LLC's holdings, making the stock its 26th largest holding. Oliver Luxxe Assets LLC owned about 0.05% of Jones Lang LaSalle worth $6,474,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Jones Lang LaSalle during the first quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Jones Lang LaSalle by 322.6% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after purchasing an additional 100 shares during the period. SVB Wealth LLC acquired a new position in Jones Lang LaSalle during the 1st quarter valued at approximately $38,000. Western Pacific Wealth Management LP acquired a new position in Jones Lang LaSalle during the 1st quarter valued at approximately $41,000. Finally, Versant Capital Management Inc increased its position in Jones Lang LaSalle by 356.3% in the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 94.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JLL. UBS Group increased their price objective on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citigroup lowered their target price on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. 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. According to MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of "Moderate Buy" and an average target price of $328.57.

Jones Lang LaSalle Trading Down 0.5%

Shares of Jones Lang LaSalle stock opened at $318.20 on Monday. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 27.36 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $322.36. The company's fifty day simple moving average is $287.94 and its 200-day simple moving average is $253.75. 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 quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.20 by $0.10. The firm had revenue of $6.25 billion during the quarter, compared to analysts' expectations 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 in the prior year, the firm posted $2.55 EPS. As a group, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

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.

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