Picton Mahoney Asset Management Acquires 3,674 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Picton Mahoney Asset Management significantly increased its stake in Jones Lang LaSalle Incorporated by 166%, acquiring an additional 3,674 shares, bringing its total holdings to 5,887 shares worth approximately $1,459,000.
• Multiple hedge funds have also increased or initiated positions in Jones Lang LaSalle, with institutional investors now holding 94.80% of the company's stock.
• Analyst ratings show a mixed sentiment, with UBS raising the price target to $340.00 and others giving varied ratings, resulting in a consensus rating of "Moderate Buy."

Picton Mahoney Asset Management raised its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 166.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,887 shares of the financial services provider's stock after acquiring an additional 3,674 shares during the period. Picton Mahoney Asset Management's holdings in Jones Lang LaSalle were worth $1,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle in the 1st quarter worth approximately $33,000. Western Pacific Wealth Management LP purchased a new position in shares of Jones Lang LaSalle in the first quarter valued at $41,000. CIBC Private Wealth Group LLC boosted its position in shares of Jones Lang LaSalle by 25.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 250 shares of the financial services provider's stock worth $62,000 after buying an additional 50 shares in the last quarter. 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 during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Jones Lang LaSalle by 39.9% in the first quarter. Farther Finance Advisors LLC now owns 368 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 105 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jones Lang LaSalle

In related news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were 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 $2,450,377.09. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price 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. JMP Securities began coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating on the stock. UBS Group raised their price objective on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Citizens Jmp initiated coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Finally, Wall Street Zen lowered Jones Lang LaSalle from a "buy" rating to a "hold" rating in a research report on Monday. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $312.43.

Jones Lang LaSalle Stock Down 1.8%

NYSE JLL traded down $4.88 on Friday, reaching $265.48. The company had a trading volume of 404,095 shares, compared to its average volume of 398,490. 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 1-year low of $194.36 and a 1-year high of $288.50. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 24.00 and a beta of 1.34. The company's fifty day moving average is $246.12 and its 200-day moving average is $247.43.

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

Jones Lang LaSalle 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.