Truist Financial Corp Purchases 9,050 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Truist Financial Corp raised its stake in Jones Lang LaSalle by 4.1%, purchasing 9,050 shares to hold 231,280 shares (about 0.49% of the company) valued at roughly $77.82 million at the end of the quarter.
• Quarterly results beat: JLL reported $3.43 EPS versus $3.01 expected and revenue of $6.39 billion versus $6.0 billion, with revenue up 11.1% year-over-year.
• Analyst sentiment is mixed-to-positive — five Buy and four Hold ratings produce an average "Moderate Buy" view and a mean price target of $365.33.

Truist Financial Corp lifted its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,280 shares of the financial services provider's stock after purchasing an additional 9,050 shares during the quarter. Truist Financial Corp owned about 0.49% of Jones Lang LaSalle worth $77,819,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Jones Lang LaSalle in the 1st quarter valued at about $546,000. Empowered Funds LLC increased its position in shares of Jones Lang LaSalle by 203.1% in the first quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock worth $1,003,000 after purchasing an additional 2,711 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Jones Lang LaSalle by 33.8% in the second quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 126 shares in the last quarter. Cresset Asset Management LLC lifted its position in Jones Lang LaSalle by 28.4% during the second quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider's stock valued at $428,000 after purchasing an additional 370 shares during the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in Jones Lang LaSalle during the second quarter valued at approximately $211,000. Institutional investors own 94.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on JLL shares. Weiss Ratings upgraded shares of Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods lowered their price target on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 24th. Barclays cut their price objective on Jones Lang LaSalle from $355.00 to $348.00 and set an "equal weight" rating for the company in a report on Tuesday, April 14th. Finally, Wall Street Zen raised Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a report on Sunday, January 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $365.33.

Insider Activity

In other news, Director Deborah H. Mcaneny sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the sale, the director owned 14,985 shares of the company's stock, valued at approximately $4,502,992.50. This represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Bloxam sold 5,440 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The SEC filing for this sale provides additional information. Corporate insiders own 0.91% of the company's stock.

Jones Lang LaSalle Price Performance

Shares of NYSE:JLL opened at $314.79 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. The stock has a market cap of $14.60 billion, a PE ratio of 16.92 and a beta of 1.34. The company's fifty day moving average is $314.23 and its 200 day moving average is $321.96. Jones Lang LaSalle Incorporated has a 52 week low of $211.86 and a 52 week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.42. The business had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The company's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. Research analysts anticipate that Jones Lang LaSalle Incorporated will post 21.93 earnings per share for the current year.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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