Swedbank AB Purchases 501,716 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Swedbank AB increased its position in Jones Lang LaSalle Incorporated (JLL) by 115.0%, owning approximately 1.98% of the company, equivalent to $239.96 million.
• Analysts have recently raised price targets for JLL, with Goldman Sachs increasing their target from $338.00 to $378.00 and JPMorgan Chase & Co. from $285.00 to $372.00.
• JLL's stock has shown a 1.5% increase recently, with a market cap of $14.99 billion and a yearly performance range from $194.36 to $322.37.

Swedbank AB lifted its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 115.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 938,149 shares of the financial services provider's stock after purchasing an additional 501,716 shares during the quarter. Swedbank AB owned 1.98% of Jones Lang LaSalle worth $239,960,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in JLL. Golden State Wealth Management LLC purchased a new stake in Jones Lang LaSalle during the 1st quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Jones Lang LaSalle by 322.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after purchasing an additional 100 shares during the last quarter. SVB Wealth LLC bought a new stake in Jones Lang LaSalle during the first quarter worth approximately $38,000. Western Pacific Wealth Management LP bought a new stake in Jones Lang LaSalle during the first quarter worth approximately $41,000. Finally, Versant Capital Management Inc boosted its position in shares of 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 valued at $80,000 after buying an additional 253 shares during the period. Institutional investors own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup cut their target price on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. The Goldman Sachs Group raised their price target on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. JMP Securities assumed coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating for the company. UBS Group lifted their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $328.57.

Jones Lang LaSalle Stock Performance

Shares of NYSE:JLL traded down $5.22 during trading on Monday, reaching $313.26. The stock had a trading volume of 330,446 shares, compared to its average volume of 395,719. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $322.36. The stock has a fifty day simple moving average of $289.09 and a two-hundred day simple moving average of $254.19. The firm has a market capitalization of $14.84 billion, a price-to-earnings ratio of 26.94 and a beta of 1.41. 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 earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.20 by $0.10. The company 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 firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 EPS. As a group, analysts anticipate 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.