Klingman & Associates LLC Raises Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Klingman & Associates LLC increased its stake in Jones Lang LaSalle by 18.4%, owning nearly 30,000 shares valued at approximately $7.67 million as of the latest SEC filing.
• Several other institutional investors have also raised their positions in Jones Lang LaSalle, with significant increases from Select Equity Group by 50.7% and Swedbank AB by 115.0%.
• Jones Lang LaSalle reported earnings of $3.30 per share for the last quarter, surpassing expectations and showing a year-over-year revenue increase of 11%.

Klingman & Associates LLC raised its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,997 shares of the financial services provider's stock after purchasing an additional 4,669 shares during the period. Klingman & Associates LLC owned 0.06% of Jones Lang LaSalle worth $7,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. raised its position in Jones Lang LaSalle by 11.9% during the first quarter. EdgePoint Investment Group Inc. now owns 1,835,344 shares of the financial services provider's stock valued at $455,000,000 after purchasing an additional 195,818 shares during the period. Select Equity Group L.P. raised its holdings in shares of Jones Lang LaSalle by 50.7% in the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider's stock worth $263,298,000 after buying an additional 357,469 shares during the period. Invesco Ltd. raised its holdings in shares of Jones Lang LaSalle by 1.8% in the first quarter. Invesco Ltd. now owns 961,959 shares of the financial services provider's stock worth $238,479,000 after buying an additional 17,336 shares during the period. Swedbank AB raised its holdings in shares of Jones Lang LaSalle by 115.0% in the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider's stock worth $239,960,000 after buying an additional 501,716 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Jones Lang LaSalle by 21.6% in the first quarter. Northern Trust Corp now owns 548,227 shares of the financial services provider's stock worth $135,911,000 after buying an additional 97,492 shares during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Up 2.0%

Shares of NYSE JLL opened at $306.42 on Tuesday. 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 has a market capitalization of $14.52 billion, a PE ratio of 26.35 and a beta of 1.39. The stock's fifty day simple moving average is $301.56 and its two-hundred day simple moving average is $260.98. Jones Lang LaSalle Incorporated has a 12-month low of $194.36 and a 12-month high of $322.36.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.10. The business had revenue of $6.25 billion for 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 business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.55 EPS. As a group, analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on JLL shares. JPMorgan Chase & Co. increased their price target on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Citizens Jmp began coverage on Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating on the stock. The Goldman Sachs Group increased their price objective on Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. JMP Securities began coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on Jones Lang LaSalle from $317.00 to $345.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $338.29.

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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