Magnetar Financial LLC Takes $229,000 Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Magnetar Financial LLC has acquired a new stake in Jones Lang LaSalle Incorporated, purchasing 925 shares valued at approximately $229,000.
• Several hedge funds, including Allianz Asset Management and GAMMA Investing LLC, have significantly increased their positions in Jones Lang LaSalle, indicating strong institutional interest.
• Jones Lang LaSalle reported earnings of $3.30 per share for the last quarter, surpassing estimates and reflecting an 11% year-over-year revenue growth, setting the company's market cap at $14.27 billion.

Magnetar Financial LLC acquired a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 925 shares of the financial services provider's stock, valued at approximately $229,000.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Jones Lang LaSalle during the 1st quarter worth about $33,000. SVB Wealth LLC purchased a new stake in Jones Lang LaSalle during the 1st quarter worth about $38,000. Western Pacific Wealth Management LP acquired a new position in Jones Lang LaSalle in the first quarter valued at approximately $41,000. Versant Capital Management Inc boosted its holdings in shares of Jones Lang LaSalle by 356.3% in the 1st quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock valued at $80,000 after buying an additional 253 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Jones Lang LaSalle by 142.1% during the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock worth $80,000 after purchasing an additional 189 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JLL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective 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 Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating for the company. Citigroup lowered their price target on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. JPMorgan Chase & Co. raised their price target on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Finally, UBS Group upped their target price on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $328.57.

Jones Lang LaSalle Price Performance

Shares of JLL stock traded up $0.21 during midday trading on Monday, reaching $311.70. 74,062 shares of the company were exchanged, compared to its average volume of 404,369. Jones Lang LaSalle Incorporated has a 12 month low of $194.36 and a 12 month high of $315.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. The company's 50 day moving average price is $276.92 and its two-hundred day moving average price is $250.44. The company has a market cap of $14.77 billion, a P/E ratio of 26.80 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The company had revenue of $6.25 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the prior year, the company earned $2.55 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle 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 directly owned 10,297 shares in the company, 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 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.