Northwestern Mutual Wealth Management Co. Purchases 5,849 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Northwestern Mutual Wealth Management Co. increased its Jones Lang LaSalle stake by 257% in the fourth quarter, buying 5,849 additional shares and bringing its total holding to 8,125 shares worth about $2.73 million.
• Institutional ownership remains very high, with 94.8% of JLL shares held by hedge funds and other institutional investors. Several other firms also added to or initiated positions in the stock.
• Analyst sentiment is mixed but generally positive: JLL has an average Moderate Buy rating and a consensus price target of $368.33, while the company also recently beat quarterly earnings and revenue estimates.

Northwestern Mutual Wealth Management Co. raised its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 257.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,125 shares of the financial services provider's stock after acquiring an additional 5,849 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Jones Lang LaSalle were worth $2,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Equity Investment Corp purchased a new stake in shares of Jones Lang LaSalle during the third quarter valued at $72,132,000. Y Intercept Hong Kong Ltd purchased a new stake in Jones Lang LaSalle in the third quarter worth about $1,143,000. DigitalBridge Group Inc. bought a new position in Jones Lang LaSalle in the third quarter worth about $1,223,000. AustralianSuper Pty Ltd bought a new position in Jones Lang LaSalle in the third quarter worth about $32,184,000. Finally, Ranger Investment Management L.P. raised its holdings in Jones Lang LaSalle by 53.0% in the third quarter. Ranger Investment Management L.P. now owns 75,950 shares of the financial services provider's stock worth $22,654,000 after purchasing an additional 26,320 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut 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. UBS Group upped their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Barclays upped their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a report on Wednesday, May 13th. Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $368.33.

Insider Buying and Selling

In other news, CEO Richard Bloxam sold 5,440 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total transaction of $1,615,353.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah H. Mcaneny sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the sale, the director directly owned 14,985 shares in the company, valued at $4,502,992.50. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. 0.91% of the stock is owned by company insiders.

Jones Lang LaSalle Price Performance

Shares of JLL opened at $292.23 on Tuesday. The business's 50-day moving average is $313.66 and its two-hundred day moving average is $321.77. The company has a market capitalization of $13.56 billion, a P/E ratio of 15.71 and a beta of 1.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35. Jones Lang LaSalle Incorporated has a fifty-two week low of $211.86 and a fifty-two week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.42. The company had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $2.31 EPS. Research analysts predict that Jones Lang LaSalle Incorporated will post 22.61 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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