M&T Bank Corp Grows Stake in Jones Lang LaSalle Incorporated $JLL

M&T Bank Corp increased its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 184,969.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,864,241 shares of the financial services provider's stock after purchasing an additional 3,862,153 shares during the period. Jones Lang LaSalle accounts for 3.9% of M&T Bank Corp's holdings, making the stock its 3rd biggest holding. M&T Bank Corp owned about 8.19% of Jones Lang LaSalle worth $1,300,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JLL. Millennium Management LLC boosted its stake in shares of Jones Lang LaSalle by 4,285.3% during the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock valued at $104,643,000 after purchasing an additional 342,821 shares in the last quarter. Equity Investment Corp bought a new position in shares of Jones Lang LaSalle during the third quarter valued at approximately $72,132,000. Wellington Management Group LLP boosted its stake in shares of Jones Lang LaSalle by 310.0% during the third quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider's stock valued at $86,545,000 after purchasing an additional 219,373 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Jones Lang LaSalle during the third quarter valued at approximately $40,417,000. Finally, AustralianSuper Pty Ltd bought a new position in shares of Jones Lang LaSalle during the third quarter valued at approximately $32,184,000. 94.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research note on Sunday, January 11th. Keefe, Bruyette & Woods lowered their target price on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Weiss Ratings upgraded shares of Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Zacks Research upgraded shares of Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Finally, UBS Group raised their target price on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Jones Lang LaSalle currently has an average rating of "Moderate Buy" and a consensus target price of $362.00.

Insider Buying and Selling at Jones Lang LaSalle

In other news, CEO Richard Bloxam sold 5,440 shares of Jones Lang LaSalle stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total value of $1,615,353.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Deborah H. Mcaneny sold 2,500 shares of Jones Lang LaSalle stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the sale, the director owned 14,985 shares in the company, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Trading Down 2.1%

Shares of Jones Lang LaSalle stock opened at $345.93 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a fifty day moving average price of $308.38 and a 200 day moving average price of $319.49. Jones Lang LaSalle Incorporated has a 1 year low of $207.92 and a 1 year high of $363.06. The stock has a market cap of $16.21 billion, a PE ratio of 21.08 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.25 by $1.46. The firm had revenue of $7.61 billion during the quarter, compared to analysts' expectations of $7.45 billion. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The firm's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $6.15 earnings per share. Equities research analysts predict that Jones Lang LaSalle Incorporated will post 21.76 earnings per share for the current year.

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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