Southeast Asset Advisors LLC Acquires Shares of 5,491 Jones Lang LaSalle Incorporated $JLL

Key Points

• Southeast Asset Advisors LLC has invested approximately $1.36 million in Jones Lang LaSalle Incorporated, acquiring 5,491 shares of the financial services provider's stock.
• Recent transactions show that several hedge funds are increasing their stakes in Jones Lang LaSalle, with notable increases from firms like Versant Capital Management Inc and Brooklyn Investment Group.
• Jones Lang LaSalle reported earnings of $3.30 per share for the last quarter, slightly exceeding analyst expectations, with a year-over-year revenue increase of 11.0%.

Southeast Asset Advisors LLC acquired a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,491 shares of the financial services provider's stock, valued at approximately $1,361,000.

A number of other large investors also recently made changes to their positions in the company. Norden Group LLC bought a new stake in Jones Lang LaSalle in the 1st quarter valued at about $287,000. PNC Financial Services Group Inc. boosted its stake in shares of Jones Lang LaSalle by 11.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,605 shares of the financial services provider's stock valued at $646,000 after purchasing an additional 262 shares in the last quarter. Bridges Investment Management Inc. grew its stake in shares of Jones Lang LaSalle by 120.0% during the first quarter. Bridges Investment Management Inc. now owns 4,447 shares of the financial services provider's stock worth $1,102,000 after buying an additional 2,426 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Jones Lang LaSalle during the 1st quarter worth approximately $8,164,000. Finally, Janney Montgomery Scott LLC grew its holdings in Jones Lang LaSalle by 34.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider's stock worth $2,176,000 after acquiring an additional 2,252 shares during the last quarter. Institutional investors own 94.80% of the company's stock.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the completion of the transaction, the chief executive officer owned 10,297 shares in the company, valued at approximately $2,450,377.09. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Down 0.4%

Shares of JLL stock traded down $1.23 on Thursday, reaching $304.62. 303,933 shares of the company were exchanged, compared to its average volume of 408,790. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $308.61. The company has a 50-day moving average of $268.80 and a 200-day moving average of $249.53. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 26.19 and a beta of 1.38.

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

Analysts Set New Price Targets

JLL has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Jones Lang LaSalle from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Keefe, Bruyette & Woods lifted their target price on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group upped their target price on Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, JMP Securities started coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $328.57.

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.