QRG Capital Management Inc. Buys 11,771 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• QRG Capital Management increased its JLL stake by 75.3% in the second quarter, purchasing 11,771 additional shares for a total holding valued at approximately $8.5 million. Institutional investors collectively own 94.8% of the company.
• Analysts maintain a generally positive outlook, with JLL receiving a consensus rating of “Moderate Buy” and an average price target of $433.60; recent targets were raised as high as $415.
• JLL reported quarterly earnings of $5.26 per share, beating estimates by $0.70, while revenue rose 10.8% year over year to $6.93 billion. CEO Christian Ulbrich sold 2,000 shares under a pre-arranged trading plan.

QRG Capital Management Inc. grew its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 75.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,400 shares of the financial services provider's stock after acquiring an additional 11,771 shares during the period. QRG Capital Management Inc. owned about 0.06% of Jones Lang LaSalle worth $8,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth approximately $1,446,414,000. Geode Capital Management LLC lifted its stake in Jones Lang LaSalle by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider's stock valued at $333,451,000 after buying an additional 15,995 shares in the last quarter. Norges Bank acquired a new stake in Jones Lang LaSalle during the 4th quarter valued at $194,950,000. Eurizon Capital SGR S.p.A. purchased a new position in Jones Lang LaSalle during the fourth quarter worth $132,263,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Jones Lang LaSalle by 279.6% in the first quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider's stock worth $130,683,000 after acquiring an additional 316,299 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Barclays raised their price target on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 18th. Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Finally, Citigroup restated a "market perform" rating on shares of Jones Lang LaSalle in a research report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $433.60.

Insider Buying and Selling at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of Jones Lang LaSalle stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the transaction, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,000 shares of company stock valued at $2,271,060. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Price Performance

JLL opened at $324.22 on Friday. Jones Lang LaSalle Incorporated has a 1 year low of $259.83 and a 1 year high of $393.84. The company's 50 day simple moving average is $354.69 and its 200 day simple moving average is $325.67. The stock has a market capitalization of $14.86 billion, a PE ratio of 15.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40.

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 for the quarter, topping analysts' consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $6.88 billion. During the same quarter last year, the firm posted $3.30 earnings per share. Jones Lang LaSalle's revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current year.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated NYSE: JLL, operating under the JLL brand, is a global commercial real estate services and investment management company. It advises property owners, occupiers, investors and developers across the real estate lifecycle, with services that include leasing, capital markets, investment sales and acquisitions, valuation and advisory, research, development consulting, and property and facilities management.

JLL also provides project and development management, workplace strategy, sustainability consulting, and technology-enabled real estate solutions.

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