Perigon Wealth Management LLC Takes Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Perigon Wealth Management LLC bought a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,141 shares of the financial services provider's stock, valued at approximately $2,266,000.

Other hedge funds have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Jones Lang LaSalle by 5.7% in the 4th quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider's stock worth $415,030,000 after acquiring an additional 88,479 shares in the last quarter. Invesco Ltd. raised its position in shares of Jones Lang LaSalle by 0.9% during the 4th quarter. Invesco Ltd. now owns 944,623 shares of the financial services provider's stock valued at $239,122,000 after acquiring an additional 8,274 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 period. Norges Bank acquired a new stake in shares of Jones Lang LaSalle in the 4th quarter valued at approximately $149,468,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Jones Lang LaSalle by 13.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 542,675 shares of the financial services provider's stock valued at $137,373,000 after purchasing an additional 65,407 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JLL. UBS Group lowered their price objective on shares of Jones Lang LaSalle from $340.00 to $305.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Citigroup lowered their price objective on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. cut 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $305.00.

Jones Lang LaSalle Stock Up 0.5%

Jones Lang LaSalle stock traded up $1.29 during mid-day trading on Tuesday, reaching $257.07. The company's stock had a trading volume of 602,077 shares, compared to its average volume of 347,106. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 23.24 and a beta of 1.34. The business's 50 day simple moving average is $232.73 and its 200 day simple moving average is $246.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.01 and a current ratio of 2.01. Jones Lang LaSalle Incorporated has a 12 month low of $194.36 and a 12 month high of $288.50.

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

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the transaction, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.