Jones Lang LaSalle Incorporated $JLL Shares Acquired by Conversant Capital LLC

Key Points

• Conversant Capital LLC increased its stake in Jones Lang LaSalle Incorporated by 25.5%, making the stock its fifth biggest holding, valued at approximately $27.4 million.
• Analysts have varied ratings on Jones Lang LaSalle, with Keefe, Bruyette & Woods boosting their price target to $297, while Citigroup lowered theirs to $240, giving the stock an overall "Moderate Buy" consensus rating.
• Jones Lang LaSalle reported earnings per share of $3.30 for the last quarter, exceeding analysts’ estimates, with an annual revenue increase of 11%.

Conversant Capital LLC boosted its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,440 shares of the financial services provider's stock after purchasing an additional 22,440 shares during the quarter. Jones Lang LaSalle comprises 4.5% of Conversant Capital LLC's investment portfolio, making the stock its 5th largest holding. Conversant Capital LLC owned 0.23% of Jones Lang LaSalle worth $27,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp increased its stake in Jones Lang LaSalle by 2.7% in the 4th quarter. Stifel Financial Corp now owns 7,851 shares of the financial services provider's stock valued at $1,987,000 after buying an additional 207 shares during the period. Boothbay Fund Management LLC acquired a new position in Jones Lang LaSalle in the 4th quarter valued at $277,000. Tudor Investment Corp ET AL acquired a new position in shares of Jones Lang LaSalle during the 4th quarter worth $817,000. Northern Trust Corp grew its stake in shares of Jones Lang LaSalle by 1.3% during the 4th quarter. Northern Trust Corp now owns 450,735 shares of the financial services provider's stock worth $114,099,000 after purchasing an additional 5,572 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Jones Lang LaSalle by 146.4% during the 4th quarter. AQR Capital Management LLC now owns 177,687 shares of the financial services provider's stock worth $44,980,000 after purchasing an additional 105,580 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 10,297 shares of the company's stock, valued at $2,450,377.09. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by company insiders.

Jones Lang LaSalle Trading Down 1.5%

NYSE JLL traded down $4.44 during mid-day trading on Tuesday, hitting $301.13. The company's stock had a trading volume of 386,322 shares, compared to its average volume of 408,152. Jones Lang LaSalle Incorporated has a 52-week low of $194.36 and a 52-week high of $308.61. The stock's fifty day simple moving average is $272.64 and its two-hundred day simple moving average is $249.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $14.27 billion, a P/E ratio of 25.89 and a beta of 1.41.

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. 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 for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the firm posted $2.55 earnings per share. Jones Lang LaSalle's revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JLL shares. The Goldman Sachs Group upped their price target on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods upped their price target on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. JMP Securities started coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating on the stock. Citigroup lowered their price target on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, UBS Group increased their price objective on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.