Nuveen LLC Makes New $53.53 Million Investment in Jones Lang LaSalle Incorporated $JLL

Key Points

• Nuveen LLC acquired approximately $53.53 million worth of shares in Jones Lang LaSalle Incorporated (NYSE:JLL), marking a notable investment in the financial services provider.
• Multiple hedge funds have significantly increased their holdings in Jones Lang LaSalle, with Allianz Asset Management GmbH leading the charge by raising its positions by 194% in the first quarter.
• Analysts have varying ratings on JLL, with stocks rated as "buy" from firms like UBS Group and Goldman Sachs, while the consensus rating stands at "Moderate Buy" with a target price of $316.14.

Nuveen LLC acquired a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 215,936 shares of the financial services provider's stock, valued at approximately $53,533,000. Nuveen LLC owned about 0.45% of Jones Lang LaSalle as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JLL. Golden State Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle in the first quarter valued at approximately $33,000. Western Pacific Wealth Management LP bought a new stake in Jones Lang LaSalle during the first quarter worth $41,000. Versant Capital Management Inc raised its position in Jones Lang LaSalle by 356.3% during the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock worth $80,000 after acquiring an additional 253 shares in the last quarter. Covestor Ltd raised its position in Jones Lang LaSalle by 30.4% during the first quarter. Covestor Ltd now owns 335 shares of the financial services provider's stock worth $83,000 after acquiring an additional 78 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Jones Lang LaSalle by 39.9% during the first quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock worth $91,000 after acquiring an additional 105 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JLL has been the topic of several analyst reports. UBS Group upped their price target on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Citigroup decreased their price objective on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $316.14.

Jones Lang LaSalle Stock Performance

Shares of JLL stock traded down $1.45 on Monday, hitting $292.65. The company's stock had a trading volume of 293,220 shares, compared to its average volume of 405,868. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. The stock's 50 day moving average is $258.67 and its 200-day moving average is $248.01. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $298.39. The company has a market capitalization of $13.87 billion, a PE ratio of 25.16 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The business had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the company posted $2.55 earnings per share. Jones Lang LaSalle's revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Insider Activity at Jones Lang LaSalle

In related news, CEO Andrew W. Poppink sold 275 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the transaction, the chief executive officer directly owned 10,297 shares in the company, valued at approximately $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Company 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.