Man Group plc Buys Shares of 35,343 Jones Lang LaSalle Incorporated $JLL

Key Points

• Man Group plc acquired 35,343 JLL shares worth approximately $11.0 million in the second quarter, joining other institutions that increased positions. Institutional investors now own 94.8% of Jones Lang LaSalle.
• JLL reported quarterly earnings of $5.26 per share, beating estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. Shares opened at $378.94, near their 52-week high of $393.84.
• Wall Street maintains a “Moderate Buy” consensus with an average price target of $433.60, although insiders have sold 6,805 shares worth $2.5 million over the past 90 days.

Man Group plc bought a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,343 shares of the financial services provider's stock, valued at approximately $10,955,000. Man Group plc owned approximately 0.08% of Jones Lang LaSalle as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Jupiter Topco LLC purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at $27,139,000. Hsbc Holdings PLC purchased a new stake in Jones Lang LaSalle in the 2nd quarter worth about $1,592,000. Cooper Haims Advisors LLC acquired a new stake in Jones Lang LaSalle during the 2nd quarter worth about $212,000. Canada Pension Plan Investment Board purchased a new position in Jones Lang LaSalle during the 2nd quarter valued at about $21,244,000. Finally, Castleark Management LLC acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at about $533,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Trading Up 0.1%

Shares of NYSE JLL opened at $378.94 on Friday. The business has a 50 day simple moving average of $344.31 and a 200 day simple moving average of $320.79. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $393.84. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 18.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.70. The firm had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 earnings per share. On average, research analysts predict that Jones Lang LaSalle Incorporated will post 24.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total transaction of $771,060.00. Following the transaction, the chief executive officer directly owned 138,418 shares of the company's stock, valued at $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $295.14, for a total value of $118,941.42. Following the transaction, the director owned 4,771 shares in the company, valued at approximately $1,408,112.94. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,805 shares of company stock worth $2,511,297 in the last 90 days. 0.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on JLL. Keefe, Bruyette & Woods raised their price target on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Barclays lifted their target price on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the company an "equal weight" rating in a research note on Monday, August 17th. Raymond James Financial restated a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $433.60.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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