Perryman Financial Advisory Inc. AD Invests $2.43 Million in Jones Lang LaSalle Incorporated $JLL

Key Points

• Perryman Financial Advisory opened a new position in Jones Lang LaSalle, buying 7,215 shares valued at about $2.43 million in the fourth quarter.
• Institutional ownership remains heavy, with several other hedge funds also adding to JLL and institutions holding about 94.8% of the company’s stock.
• JLL reported strong quarterly results, with earnings of $3.43 per share and revenue of $6.39 billion, both above analyst expectations, even as the stock traded slightly lower and analysts maintained a Moderate Buy consensus.

Perryman Financial Advisory Inc. AD bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,215 shares of the financial services provider's stock, valued at approximately $2,428,000.

Several other hedge funds and other institutional investors also recently modified their holdings of JLL. Integrated Wealth Concepts LLC bought a new stake in shares of Jones Lang LaSalle in the 1st quarter worth about $546,000. Empowered Funds LLC increased its position in shares of Jones Lang LaSalle by 203.1% in the 1st quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock worth $1,003,000 after purchasing an additional 2,711 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Jones Lang LaSalle by 33.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider's stock worth $128,000 after purchasing an additional 126 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Jones Lang LaSalle by 28.4% in the 2nd quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider's stock worth $428,000 after purchasing an additional 370 shares during the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth about $211,000. Institutional investors own 94.80% of the company's stock.

Insider Buying and Selling

In other news, Director Larry Quinlan sold 403 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $295.14, for a total value of $118,941.42. Following the completion of the sale, the director directly owned 4,771 shares of the company's stock, valued at approximately $1,408,112.94. This represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Bloxam sold 5,440 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Barclays boosted 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 research report on Wednesday, May 13th. Keefe, Bruyette & Woods lowered their price objective on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. UBS Group boosted their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $394.00.

Jones Lang LaSalle Trading Down 0.2%

Shares of NYSE:JLL opened at $299.31 on Monday. The company has a 50 day moving average of $311.99 and a 200-day moving average of $320.98. The firm has a market cap of $13.89 billion, a P/E ratio of 16.09 and a beta of 1.29. Jones Lang LaSalle Incorporated has a twelve month low of $233.14 and a twelve month high of $363.06. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 EPS. As a group, analysts anticipate that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current fiscal year.

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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