Kovitz Investment Group Partners LLC Invests $268,000 in Jones Lang LaSalle Incorporated $JLL

Key Points

• Kovitz Investment Group Partners LLC has made a new investment of $268,000 in Jones Lang LaSalle Incorporated by purchasing 1,080 shares in the first quarter.
• Institutional investors now hold approximately 94.80% of Jones Lang LaSalle’s stock, indicating strong institutional backing.
• The company's recent quarterly earnings exceeded estimates, reporting $3.30 earnings per share against a consensus of $3.20, and revenue increased by 11.0% year-over-year.

Kovitz Investment Group Partners LLC acquired a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,080 shares of the financial services provider's stock, valued at approximately $268,000.

Several other large investors have also made changes to their positions in JLL. First Trust Advisors LP boosted its position in shares of Jones Lang LaSalle by 187.3% during the 4th quarter. First Trust Advisors LP now owns 41,574 shares of the financial services provider's stock worth $10,524,000 after acquiring an additional 27,105 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of 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 purchasing an additional 207 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Jones Lang LaSalle by 116.8% in the 4th quarter. Hsbc Holdings PLC now owns 33,679 shares of the financial services provider's stock valued at $8,502,000 after purchasing an additional 18,145 shares in the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Jones Lang LaSalle by 12.5% in the 4th quarter. Pinebridge Investments L.P. now owns 42,010 shares of the financial services provider's stock valued at $10,634,000 after purchasing an additional 4,654 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Jones Lang LaSalle by 15.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 110,000 shares of the financial services provider's stock valued at $27,845,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Trading Up 0.5%

Shares of NYSE:JLL traded up $1.59 during mid-day trading on Wednesday, reaching $307.07. 158,938 shares of the company's stock were exchanged, compared to its average volume of 408,123. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 26.39 and a beta of 1.38. The business's fifty day moving average price is $267.42 and its 200-day moving average price is $249.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $308.61.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JLL shares. JPMorgan Chase & Co. raised their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research note on Tuesday. UBS Group raised their price target 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. Citigroup reduced 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. JMP Securities began coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, Wall Street Zen lowered shares of Jones Lang LaSalle from a "buy" rating to a "hold" rating in a research report on Saturday. One investment 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $328.57.

Insider Activity at Jones Lang LaSalle

In related news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $237.97, for a total value of $65,441.75. Following the transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

About Jones Lang LaSalle

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.