United Services Automobile Association Takes $775,000 Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• United Services Automobile Association has invested approximately $775,000 in Jones Lang LaSalle Incorporated (NYSE:JLL) by acquiring 3,151 shares during the first quarter.
• Recent institutional investments in Jones Lang LaSalle included a 50.7% increase in holdings by Select Equity Group L.P. and a 194.0% increase by Allianz Asset Management GmbH.
• Jones Lang LaSalle reported $3.30 EPS for the last quarter, exceeding analysts’ expectations, with revenue of $6.25 billion, marking an 11.0% increase year-over-year.

United Services Automobile Association bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,151 shares of the financial services provider's stock, valued at approximately $775,000.

Other large investors also recently modified their holdings of the company. EdgePoint Investment Group Inc. increased its holdings in Jones Lang LaSalle by 11.9% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,835,344 shares of the financial services provider's stock valued at $455,000,000 after purchasing an additional 195,818 shares during the period. Select Equity Group L.P. increased its stake in shares of Jones Lang LaSalle by 50.7% during the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider's stock valued at $263,298,000 after buying an additional 357,469 shares during the period. Invesco Ltd. raised its holdings in shares of Jones Lang LaSalle by 1.8% during the first quarter. Invesco Ltd. now owns 961,959 shares of the financial services provider's stock valued at $238,479,000 after acquiring an additional 17,336 shares in the last quarter. Northern Trust Corp lifted its stake in Jones Lang LaSalle by 21.6% in the first quarter. Northern Trust Corp now owns 548,227 shares of the financial services provider's stock worth $135,911,000 after acquiring an additional 97,492 shares during the period. Finally, Vulcan Value Partners LLC increased its position in Jones Lang LaSalle by 22.9% during the 1st quarter. Vulcan Value Partners LLC now owns 536,063 shares of the financial services provider's stock valued at $132,828,000 after purchasing an additional 99,837 shares during the period. 94.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the completion of the transaction, the chief executive officer directly owned 10,297 shares in the company, valued at $2,450,377.09. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by insiders.

Jones Lang LaSalle Stock Down 0.6%

Shares of NYSE:JLL traded down $1.99 on Friday, hitting $312.42. 523,801 shares of the company traded hands, compared to its average volume of 386,353. The stock has a 50 day simple moving average of $282.09 and a 200-day simple moving average of $252.11. 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 company has a market cap of $14.80 billion, a PE ratio of 26.86 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $316.79.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings data 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%. Jones Lang LaSalle's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 EPS. As a group, research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JLL. Citigroup reduced their price target on shares of 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. Wall Street Zen upgraded Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. Keefe, Bruyette & Woods raised their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group boosted 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, Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They issued a "market perform" rating for the company. One 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.