Milford Funds Ltd. Makes New Investment in Jones Lang LaSalle Incorporated $JLL

Key Points

• Milford Funds Ltd. initiated a new position in Jones Lang LaSalle in the fourth quarter, buying 255,944 shares worth about $86.1 million. The stake represents roughly 1.7% of Milford’s portfolio and 0.54% of JLL.
• Institutional ownership is very high, with 94.8% of JLL shares held by institutions and hedge funds. Several large investors also recently boosted or opened positions, including M&T Bank, Norges Bank, and Wellington Management.
• JLL recently reported strong quarterly results, posting $3.43 EPS versus the $3.01 estimate and revenue of $6.39 billion, up 11.1% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $394.

Milford Funds Ltd. bought a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 255,944 shares of the financial services provider's stock, valued at approximately $86,117,000. Jones Lang LaSalle accounts for approximately 1.7% of Milford Funds Ltd.'s investment portfolio, making the stock its 23rd largest holding. Milford Funds Ltd. owned 0.54% of Jones Lang LaSalle as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. M&T Bank Corp increased its holdings in shares of Jones Lang LaSalle by 184,969.0% in the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider's stock worth $1,300,201,000 after acquiring an additional 3,862,153 shares during the period. Norges Bank acquired a new stake in shares of Jones Lang LaSalle in the 4th quarter worth about $194,950,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Jones Lang LaSalle in the 4th quarter worth about $132,263,000. Millennium Management LLC increased its holdings in shares of Jones Lang LaSalle by 4,285.3% in the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock worth $104,643,000 after acquiring an additional 342,821 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Jones Lang LaSalle by 310.0% in the 3rd quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider's stock worth $86,545,000 after acquiring an additional 219,373 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction of $118,941.42. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Bloxam sold 5,440 shares of the firm's stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total transaction of $1,615,353.60. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Up 0.5%

Jones Lang LaSalle stock opened at $299.31 on Friday. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 16.09 and a beta of 1.29. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $311.99 and its two-hundred day moving average price is $320.95. Jones Lang LaSalle Incorporated has a 52 week low of $233.14 and a 52 week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, beating the consensus estimate of $3.01 by $0.42. The firm had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. Jones Lang LaSalle's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $2.31 EPS. On average, analysts expect that Jones Lang LaSalle Incorporated will post 22.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JLL. Barclays increased their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 13th. Keefe, Bruyette & Woods dropped their price objective on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Zacks Research cut shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Weiss Ratings cut shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. Finally, UBS Group increased their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Jones Lang LaSalle presently has a consensus rating of "Moderate Buy" and an average target price of $394.00.

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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