Select Equity Group L.P. Increases Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Select Equity Group L.P. increased its stake in Jones Lang LaSalle by 50.7%, owning over 1 million shares valued at approximately $263 million as of their latest SEC filing.
• Several hedge funds have adjusted their positions in JLL, with Deutsche Bank AG significantly increasing its stake by 94.7% in the fourth quarter.
• Jones Lang LaSalle's stock has shown strong performance, reporting an EPS of $3.30, exceeding analysts' expectations, and has a current market valuation of $14.77 billion.

Select Equity Group L.P. lifted its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 50.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062,069 shares of the financial services provider's stock after purchasing an additional 357,469 shares during the period. Select Equity Group L.P. owned about 2.24% of Jones Lang LaSalle worth $263,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of JLL. Ameriprise Financial Inc. increased its stake in shares of Jones Lang LaSalle by 27.7% in the fourth quarter. Ameriprise Financial Inc. now owns 199,789 shares of the financial services provider's stock worth $50,575,000 after purchasing an additional 43,378 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Jones Lang LaSalle by 2.1% in the fourth quarter. Captrust Financial Advisors now owns 3,157 shares of the financial services provider's stock worth $799,000 after purchasing an additional 64 shares in the last quarter. BOKF NA purchased a new stake in shares of Jones Lang LaSalle in the fourth quarter worth $145,000. Cetera Investment Advisers increased its stake in shares of Jones Lang LaSalle by 24.5% in the fourth quarter. Cetera Investment Advisers now owns 7,521 shares of the financial services provider's stock worth $1,904,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Jones Lang LaSalle by 94.7% in the fourth quarter. Deutsche Bank AG now owns 64,976 shares of the financial services provider's stock worth $16,448,000 after purchasing an additional 31,608 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JLL has been the subject of several research analyst reports. UBS Group raised their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. JMP Securities initiated coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. Wall Street Zen raised shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. Finally, Citigroup cut their target price on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $328.57.

Jones Lang LaSalle Stock Performance

Shares of NYSE:JLL opened at $311.73 on Friday. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $315.14. The stock has a market capitalization of $14.77 billion, a P/E ratio of 26.80 and a beta of 1.41. The firm has a fifty day simple moving average of $276.92 and a two-hundred day simple moving average of $250.59. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $0.10. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The business had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same period last year, the company posted $2.55 EPS. The business's revenue was up 11.0% on a year-over-year basis. On average, analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Insider Activity at Jones Lang LaSalle

In other 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 value of $65,441.75. Following the completion of the sale, the chief executive officer owned 10,297 shares in the company, valued at approximately $2,450,377.09. This trade represents 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. 0.91% of the stock is owned by insiders.

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.

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