Perigon Wealth Management LLC Invests $4.51 Million in Jones Lang LaSalle Incorporated $JLL

Key Points

• Perigon Wealth Management initiated a $4.51 million position in Jones Lang LaSalle during the second quarter, while institutional investors collectively own 94.8% of JLL’s stock.
• JLL reported quarterly EPS of $5.26, beating estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $423.33, despite recent insider sales and the stock trading near its 52-week high.

Perigon Wealth Management LLC bought a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 14,567 shares of the financial services provider's stock, valued at approximately $4,515,000.

A number of other institutional investors and hedge funds have also modified their holdings of JLL. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Jones Lang LaSalle during the second quarter worth $26,000. Crown Advisors Management Inc. purchased a new position in shares of Jones Lang LaSalle in the second quarter valued at $1,550,000. OneDigital Investment Advisors LLC acquired a new stake in Jones Lang LaSalle in the 2nd quarter valued at about $555,000. Plato Investment Management Ltd acquired a new position in shares of Jones Lang LaSalle during the 2nd quarter worth approximately $225,000. Finally, Global Retirement Partners LLC acquired a new stake in Jones Lang LaSalle during the 2nd quarter valued at $453,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Stock Down 1.7%

Shares of NYSE JLL opened at $368.62 on Tuesday. The stock has a market capitalization of $16.96 billion, a PE ratio of 17.66 and a beta of 1.24. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $329.04 and a 200-day moving average of $318.18. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $375.71.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. The firm had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. On average, analysts anticipate that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current year.

Insider Activity at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $375.00, for a total value of $750,000.00. Following the transaction, the chief executive officer directly owned 146,418 shares of the company's stock, valued at $54,906,750. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 402 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the transaction, the director owned 4,369 shares in the company, valued at approximately $1,318,258.37. This represents a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 2,805 shares of company stock valued at $990,237. 0.91% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a report on Monday. UBS Group lifted their price target 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. Zacks Research lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price target on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $423.33.

About Jones Lang LaSalle

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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