Meeder Asset Management Inc. Purchases 3,584 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Meeder Asset Management Inc. dramatically increased its stake in Jones Lang LaSalle by 1,244.4%, acquiring an additional 3,584 shares in the first quarter, bringing its total holdings to $960,000.
• Jones Lang LaSalle's stock reported a 5.2% increase recently, with shares opening at $276.27, while the company has a market cap of $13.12 billion.
• The firm reported a quarterly earnings per share (EPS) of $2.31, exceeding estimates, with revenues increasing by 12.1% year-over-year to $5.75 billion.

Meeder Asset Management Inc. lifted its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 1,244.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,872 shares of the financial services provider's stock after purchasing an additional 3,584 shares during the quarter. Meeder Asset Management Inc.'s holdings in Jones Lang LaSalle were worth $960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EdgePoint Investment Group Inc. lifted its position in shares of Jones Lang LaSalle by 5.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider's stock valued at $415,030,000 after buying an additional 88,479 shares in the last quarter. Invesco Ltd. raised its stake in Jones Lang LaSalle by 0.9% in the 4th quarter. Invesco Ltd. now owns 944,623 shares of the financial services provider's stock valued at $239,122,000 after purchasing an additional 8,274 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Jones Lang LaSalle by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 934,958 shares of the financial services provider's stock valued at $240,190,000 after buying an additional 41,331 shares during the last quarter. Norges Bank purchased a new position in shares of Jones Lang LaSalle in the fourth quarter worth about $149,468,000. Finally, Northern Trust Corp boosted its position in Jones Lang LaSalle by 1.3% during the fourth quarter. Northern Trust Corp now owns 450,735 shares of the financial services provider's stock worth $114,099,000 after acquiring an additional 5,572 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the transaction, the chief executive officer owned 10,297 shares of the company's stock, valued at approximately $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 Stock Performance

Shares of NYSE:JLL traded down $3.58 on Wednesday, reaching $272.31. 458,346 shares of the company's stock were exchanged, compared to its average volume of 378,523. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 24.62 and a beta of 1.34. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $288.50. The business's 50-day moving average is $245.00 and its two-hundred day moving average is $247.21. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.17.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.02 by $0.29. Jones Lang LaSalle had a net margin of 2.23% and a return on equity of 10.37%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The company's quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on JLL shares. Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating on the stock. UBS Group upped their price objective on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $312.43.

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.