Sierra Summit Advisors LLC Makes New Investment in Jones Lang LaSalle Incorporated (NYSE:JLL)

Key Points

• Sierra Summit Advisors LLC purchased 2,273 shares of Jones Lang LaSalle Incorporated in Q1, valued at approximately $564,000, as part of a growing interest from institutional investors.
• Multiple analysts have raised their price targets for Jones Lang LaSalle, with UBS Group increasing theirs from $305.00 to $340.00, and the stock currently holding a consensus rating of "Moderate Buy".
• Jones Lang LaSalle reported a Q2 earnings per share of $3.30, exceeding analyst expectations, and has seen an 11% year-over-year revenue increase, highlighting its robust financial performance.

Sierra Summit Advisors LLC purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,273 shares of the financial services provider's stock, valued at approximately $564,000.

Several other large investors have also recently bought and sold shares of JLL. Allianz Asset Management GmbH lifted its holdings in shares of Jones Lang LaSalle by 194.0% during the 1st quarter. Allianz Asset Management GmbH now owns 395,337 shares of the financial services provider's stock worth $98,008,000 after acquiring an additional 260,847 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Jones Lang LaSalle by 134.5% during the 4th quarter. Marshall Wace LLP now owns 373,207 shares of the financial services provider's stock worth $94,474,000 after acquiring an additional 214,087 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Jones Lang LaSalle by 25,132.7% during the 1st quarter. GAMMA Investing LLC now owns 212,459 shares of the financial services provider's stock worth $52,671,000 after acquiring an additional 211,617 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Jones Lang LaSalle by 146.2% during the 4th quarter. Millennium Management LLC now owns 335,451 shares of the financial services provider's stock worth $84,916,000 after acquiring an additional 199,197 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Jones Lang LaSalle by 285.8% during the 1st quarter. Blair William & Co. IL now owns 217,835 shares of the financial services provider's stock worth $54,003,000 after acquiring an additional 161,371 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research report on Wednesday. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, JMP Securities began coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $316.14.

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of the stock in a transaction that occurred on 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 owned 10,297 shares in the company, valued at $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Down 1.1%

NYSE:JLL traded down $3.18 during mid-day trading on Thursday, hitting $293.74. 414,657 shares of the company's stock were exchanged, compared to its average volume of 404,671. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $297.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The business has a fifty day moving average price of $256.11 and a 200 day moving average price of $248.30. The company has a market cap of $13.92 billion, a PE ratio of 25.25 and a beta of 1.38.

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

About Jones Lang LaSalle

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.