Truist Financial Corp Grows Stake in Jones Lang LaSalle Incorporated $JLL

Key Points

• Truist Financial Corp increased its stake in Jones Lang LaSalle Incorporated by 2.6%, owning 212,275 shares worth approximately $54.3 million at the end of the second quarter.
• Jones Lang LaSalle reported earnings per share of $3.30 for the quarter, surpassing analysts' expectations of $3.20, with revenues of $6.25 billion.
• Various analysts have raised their price targets for Jones Lang LaSalle, with UBS Group setting a target of $340.00 and Goldman Sachs increasing it to $378.00, indicating a strong outlook for the stock.

Truist Financial Corp increased its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,275 shares of the financial services provider's stock after purchasing an additional 5,288 shares during the quarter. Truist Financial Corp owned approximately 0.45% of Jones Lang LaSalle worth $54,295,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JLL. GAMMA Investing LLC lifted its stake in shares of Jones Lang LaSalle by 6.0% in the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the financial services provider's stock valued at $232,000 after purchasing an additional 51 shares during the last quarter. CWC Advisors LLC. lifted its stake in shares of Jones Lang LaSalle by 2.9% in the 2nd quarter. CWC Advisors LLC. now owns 2,195 shares of the financial services provider's stock valued at $561,000 after purchasing an additional 61 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Jones Lang LaSalle by 4.2% in the 1st quarter. Mackenzie Financial Corp now owns 1,610 shares of the financial services provider's stock valued at $399,000 after purchasing an additional 65 shares during the last quarter. Covestor Ltd lifted its stake in shares of Jones Lang LaSalle by 30.4% in the 1st quarter. Covestor Ltd now owns 335 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 78 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Jones Lang LaSalle by 7.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,292 shares of the financial services provider's stock valued at $327,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Trading Down 0.4%

Shares of NYSE JLL opened at $297.18 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $295.75 and a two-hundred day simple moving average of $256.78. The firm has a market cap of $14.08 billion, a PE ratio of 25.55 and a beta of 1.39. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $322.36.

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 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 return on equity of 10.63% and a net margin of 2.28%.Jones Lang LaSalle's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 EPS. Analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JMP Securities assumed coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. UBS Group raised their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group raised their price target on Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, Keefe, Bruyette & Woods raised their price target on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company 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.

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